Volcon ePowersports raises $17.5 million in funding within first year of operation

Volcon ePowersports has reached a new milestone as the company announced the closing of $17.5 million in funding, bolstering the growing organisation with new company hires and expanding production capacity to meet consumer demand. Volcon Inc. is the first all-electric, off-road-only powersports company.

Also effective immediately, Volcon has appointed Greg Endo as Chief Financial Officer (CFO), where he is positioned as a key team member during a time when the company’s first products are coming to market.

In recent months, Volcon has signed new national and international partnership agreements surpassing 2021 and 2022 sales projections. The new funds will provide Volcon the ability to meet this demand with additional production, engineering and sales staff, as well as double the production lines in Austin, Texas, to build the Volcon Grunt and Runt, the company’s first family-friendly, all-electric, off-road motorcycles.

Greg Endo, joining as CFO, brings more than 26 years of experience to Volcon. Prior to Volcon he was an audit and advisory partner with Deloitte & Touche LLP, advising clients in manufacturing, technology and real estate industries. He has assisted clients on merger and acquisition transactions, equity and debt financings, IT implementations and business process design and controls. He will oversee Volcon’s accounting and finance organisation as well as work with its strategic partners.

Volcon electric vehicles provide fun, family-friendly, off-road adventures as well as backcountry sportsman exploration, along with practical utility. In addition to the groundbreaking Grunt and Runt, Volcon will begin delivery of the four-wheeled ‘Stag’ and ‘Beast’ UTV models in 2022 into 2023, respectively.



Categories: Updates

Tags: ,

Leave a Reply

%d bloggers like this: