ADOMANI acquires right to use commercial manufacturing zoned facility that is well-suited for Company’s growth trajectory and will support new product development, staging of materials and component systems as well as the secure storage of finished product inventory
CORONA, CA / ACCESSWIRE / May 9, 2019 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today its expansion into a large commercial property in Downey, California. Downey is a city located in southeast Los Angeles County, 13 miles southeast of downtown Los Angeles.
Since moving its headquarters to professional office space in Corona, California, in late 2017, ADOMANI has been searching for a complementary property with zoning that would allow for research and development, staging of materials, assembly and/or manufacturing, testing of vehicles and the secure storage of prototypes, demonstration vehicles, equipment and finished inventory. With occupancy rates remaining high in Southern California, the Company has had to spread assets and resources among multiple dispersed locations due to limited suitable options. ADOMANI recently acquired the use of the Downey location, which has approximately 43,000 square feet under roof and sits on an approximately 4-acre, fenced and paved lot with expansive parking areas for all sizes of ADOMANI’s zero-emission vehicles.
Regarding the Downey facility, Jim Reynolds, President, and CEO of ADOMANI stated, “The building is in a redevelopment area, and we don’t know exactly how long we’ll be able to utilize the space.” Reynolds continued, “However, with our limited choices, this is still a great interim step as ADOMANI continues to grow its product offerings and as our capabilities evolve. The space will also allow us to build and inventory certain items ahead of demand, helping to compress the extended timeframe often required between, taking a customer’s order and the delivery of the final product, a common complaint in our industry.”
“With an ever-expanding collection of prototype and demo vehicles, which include school buses, trucks, vans, chassis and other zero-emission vehicles, this additional commercial manufacturing-zoned property will allow us to centralize many activities,” stated Rick Eckert, COO of ADOMANI. “Additionally,” Eckert continued, “the building has significant high-ceiling space, roll-up doors, loading docks, more than adequate electrical power service, a permitted paint booth, plumbing for air tools and plenty of space for post lifts, work stations, test fixtures, inventory racking and finished product storage. There is also a detached office for meetings, record keeping, and shipping and receiving tasks.”
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicle drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI is also a provider of new zero-emission electric and hybrid vehicles focused on reducing the total cost of vehicle ownership, and helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. For more information, visit www.ADOMANIelectric.com
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words ”planned,” ”expects,” ”believes,” ”strategy,” ”opportunity,” ”anticipates,” ”outlook,” ”designed” and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Investor Relations Contacts:
Kevin Kanning, VP Investor Relations
Telephone: (650) 533-7629
Email: [email protected]
James Carbonara, Hayden IR
Telephone: (646) 755-7412
Email: [email protected]
Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 205
Email: [email protected]
SOURCE: ADOMANI, Inc.
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