ADOMANI(R) and Suneel Sawant of Mumbai, India Announce a Three Year Exclusive Agreement to Market ADOMANI Zero-Emission Vehicles in India
CORONA, CA / ACCESSWIRE / December 17, 2019 / ADOMANI, Inc. (OTCQB: ADOM ), a provider of advanced zero-emission vehicle drivetrain solutions and purpose-built electric vehicles, and Sawant, engaged in the investment, development and support of industries in India in biotech, communications, information technology and emerging markets, announced today that they have entered into a 3-year exclusive agreement under which ADOMANI will market its zero-emission vehicles and technology to the Indian market.
India, with the world’s second largest population after China, ranks 3rd in the world for greenhouse gas (GHG) emissions. While the country contributes 7% of the global GHG, half that of the USA, India’s CO2 emissions are increasing faster than that of China and the USA, with a 4.8% increase in 2018.
India’s current population of 1.37 billion people is growing at an annual rate of 1.1% and is expected to surpass the most populated country, China, by 2027. With 27% of the country’s population under the age of 14, health concerns over respiratory issues continue to grow as dangerous levels of pollution choke residents of all ages. School- aged children are forced to stay home and indoors, missing outdoor activities and classes as schools are ordered closed when toxic pollution levels rise.
Mr. Sawant, President and CEO of Databoss, Inc. and several global-based companies, spoke of his concern about climate change and the increase in greenhouse gases: “Today, India is the second most populated country in the world and the difference between India and China is shrinking every year. Because of that, India must do its part to reduce greenhouse gases that contribute to air pollution and to climate change. To that end, my team and I believe zero-emission vehicles and the reduction of the global use of fossil fuels are the way to go.”
In 2018, the Transport Minister of India, Nitin Gadkari, indicated that under the National Electric Mobility Mission Plan (NEMMP), 30% of vehicles in India are to be all-electric vehicles by 2030. This follows the country’s aggressive plan to ban internal combustion three-wheeler vehicles, the intent being to convert the market to all EV three-wheelers by 2023.
ADOMANI’S CEO, Jim Reynolds added, “While we don’t expect to see quick results in the Indian marketplace, we know there is pressure to reduce pollution worldwide and India must be part of that conversation. Suneel will have three (3) main areas of responsibility within India: (1) market the ADOMANI product line, (2) seek emerging technology that might be incorporated into the ADOMANI offerings and (3) work with local suppliers looking for potential M & A activity.”
Rick Eckert, ADOMANI’S COO, concluded, “We know the experience Suneel brings us with respect to the Indian market, and his past successes in growing product lines, combined with his and his team’s desire to reduce pollution and the emission of greenhouse gases into the atmosphere, will enhance the health of the children and all residents of India.”
ADOMANI, Inc. is a provider of zero-emission electric 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 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 cost 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 ADOMANI’s reports filed 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.
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SOURCE: ADOMANI, Inc.
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