Volcon Bags First Stag UTV Vehicles Order From US Army

Volcon Inc (NASDAQ:VLCN) has secured its first order to deliver two Stag UTV vehicles to the U.S. Army.
The Stag, the company’s first all-wheel drive, fully electric UTV, powered by General Motors Co (NYSE:GM) electric propulsion system technology, is expected to be delivered to two U.S. Army locations in mid-2023.
The slightly modified commercial version of the Stag will include a fully enclosed cabin and will be evaluated to support the U.S. Army Corp of Engineers (USACE) disaster and emergency response missions.
Missions include emergency power support, emergency infrastructure assessments, debris removal, and urban search and rescue.
In addition, ERDC-CERL’s intent is to introduce the Stag to soldiers rotating through their training sites.
“This award is a significant first step into the federal government marketplace,” said the company’s VP of Global Defense and Government Programs, Richard Tannery.
Price Action: VLCN shares are trading lower by 5.26% at $1.98 on the last check Wednesday.