Last session, ADOMANI Inc. (OTCQB: ADOM) closed at $0.2704 after seeing its share price rise 10.37%, bringing its market cap to $78.50M. Recent activity on ADOMANI stock with trades of 854.51K shares has been lower than its average daily volume of 1.53M.
Further, the ADOM stock price has been fluctuating between $0.2350 and $0.2748. In the pink sheets company, there are 290.32 million outstanding shares versus 44.71 million outstanding shares. After signing a factory representative agreement, ADOM stock rose.
ADOM has signed an agreement with whom?
ADOMANI was formerly known as Envirotech Vehicles and is an automotive manufacturer of zero-emission electric vehicles focused on reducing total costs of ownership and assisting fleet operators in implementing green technology.
As an electric vehicle manufacturer, ADOM provides a range of solutions to the public, private and school sectors, as well as colleges and universities. In addressing fuel cost volatility and environmental regulations on local, state, and federal levels, ADOM vehicles offer an alternative.
Earlier this month, Envirotech Vehicles (ADOMANI) announced it had signed a Factory Authorized Representative Agreement with Joseph Holdings, Inc.
- Through the partnership, Joseph Holdings will be able to market, sell, and service Envirotech products throughout the Caribbean.
- A minimum of one van and one truck belonging to the Class 4 or Class 5 must be purchased by Joseph Holdings at the beginning of the agreement.
- At first, the cars will be used for demonstrations and could be sold to other customers.
How will the partnership benefit ADOM?
Through its partnership with Joseph Holdings, ADOMANI (ADOM) is able to leverage the Joseph Holdings’ established customer base and leasing capabilities as it looks to expand in the region. ADOM’s expansion plans in these markets will be enhanced by its relationship with Joseph Holdings, and this is a key catalyst to that expansion.