Volcon ePowersports Reports Operational Highlights and First Quarter 2025 Financial Results

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[{"type":"text","content":"AUSTIN, TX / ACCESS Newswire / May 9, 2025 / Volcon Inc. (NASDAQ:VLCN) ("Volcon'', the "Company" or "we"), the first all-electric, off-road powersports company, today reported its operational highlights and financial results for the quarter ended March 31, 2025.","length":295,"tagName":"p"},{"type":"text","content":"Company Highlights:","length":19,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sold all remaining Grunt EVO motorcycles in Q1","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Signed amended and restated golf cart supply agreement with Venom-EV","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"Evaluating impact of tariffs on products","length":40,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":154,"olType":false},{"type":"text","content":"In the first quarter of 2025, Volcon successfully sold all remaining Grunt EVO motorcycles. The company has since received prototypes of a dual-sport motorcycle, which is currently in development. The primary goal is to make it available for sale in the second half of 2025. As of now, reaching this goal is dependent on testing, meeting on-road regulations, manufacturing costs, and the impact of tariffs.","length":406,"tagName":"p"},{"type":"text","content":"As previously announced in February 2025, Volcon signed a golf cart supply agreement with Venom-EV LLC ("Venom") to supply Venom with golf carts. In April 2025, the agreement was amended and restated to adjust payment terms and the percentage Volcon will be paid for each golf cart ordered under said agreement.","length":321,"tagName":"p"},{"type":"text","content":"On April 2, 2025, the U.S. imposed tariffs on goods imported from certain countries including China and Vietnam, where Volcon's vehicles are manufactured. On April 9, 2025, tariffs for China were increased while tariffs for Vietnam were deferred for 90 days. Further adjustments to these tariffs could occur. If the tariffs are put into place as proposed, they will significantly increase Volcon's vehicle and part costs. The company is currently evaluating the option of importing parts and assembling vehicles in the U.S. The second option would be to continue to import vehicles and pay the higher tariffs, increasing the selling price of vehicles.","length...

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