VivoPower's Tembo will deliver 25 upgraded electric utility vehicles to Sydney by February 2025, responding to strong demand.
Quiver AI Summary
VivoPower International PLC announced that its subsidiary, Tembo e-LV, will receive 25 Tusker electric utility vehicles in Sydney, Australia by the end of February 2025. This shipment includes next-generation models equipped with enhanced cruise control, safety, and multimedia features. Due to high demand, all vehicles are already allocated, and Tembo is assisting fleet owners in applying for a NSW government incentive of up to A$15,000 per vehicle. The Tembo Tuskers are touted as the best value 100% electric utility pick-up trucks in Australia, offering a 3-year warranty and an 8-year battery warranty from CATL. The vehicles received full Australian Federal Government homologation, ensuring compliance with safety and regulatory standards necessary for market operation.
Potential Positives
- Delivery of 25 next-generation Tusker electric vehicles signifies strong demand from customers and partners.
- The Tembo Tusker received full Australian Federal Government on-road homologation, a crucial regulatory milestone that verifies compliance with safety and environmental standards.
- All Tuskers come with a 3-year warranty and an 8-year battery warranty from CATL, enhancing customer confidence in the product's reliability.
- Tembo is assisting fleet owners in securing government incentives of up to A$15,000 per vehicle, potentially increasing sales and customer adoption.
Potential Negatives
- The press release does not detail the specifics of the expected demand that necessitated the shipment of 25 Tusker vehicles, potentially raising concerns about sustainability in customer interest.
- The mention of forward-looking statements without concrete metrics may indicate uncertainty about future performance and market acceptance of the vehicles.
- There is no information about the company's financial health or how the production and supply of Tuskers fits into its overall business strategy, which could leave stakeholders questioning the company's direction.
FAQ
What are the key features of the new Tusker vehicles?
The next-gen Tusker vehicles include upgraded cruise control, safety features, multimedia capabilities, and electronic park braking.
When will the Tusker vehicles be available for delivery?
All 25 Tusker vehicles are scheduled for delivery in Sydney, Australia, by the end of February 2025.
What warranty comes with the Tembo Tuskers?
Tembo Tuskers come with a 3-year OEM warranty and an 8-year battery warranty from CATL.
How can fleet owners secure government incentives for Tuskers?
Tembo is assisting fleet owners in applying for the NSW government fleet incentive of up to A$15,000 per vehicle.
What makes Tembo Tusker the best value electric utility truck in Australia?
The Tusker is 100% electric, homologated, and offers robust features at a competitive price point compared to other utility trucks.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
Delivery of 25 Tusker vehicles includes next gen model with upgraded cruise control, safety and multimedia features from February 2025
All 25 vehicles have been allocated due to strong demand from customers and partners
Tembo is working with fleet owners to assist them in securing the NSW government fleet incentive of up to A$15,000 per vehicle
Tembo Tuskers offer the best value for money homologated 100% electric utility pick-up truck in Australia
Tuskers come with a 3-year warranty, 8 year battery warranty from CATL, the world's largest battery company
LONDON, Jan. 22, 2025 (GLOBE NEWSWIRE) --
VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that its subsidiary, Tembo e-LV ("Tembo"), has been advised that it will receive shipment of 25 Tusker full electric utility vehicles into Sydney, Australia before the end of February 2025. Tembo will subsequently be able to deliver Tuskers to customers and partners.
The Tusker batch includes the next generation model which has upgraded features, including EPB (electronic park braking), Uphill Drive assistance, Fixed Speed Cruise Control, Bluetooth Car Phone, 12.3-inch Centre Console screen interface as well as AEBS and the popular V2L (vehicle 2 load feature).
The Tembo Tuskers offer the best value for money 100% electric utility pick-up trucks in Australia and comes with a 3 year OEM warranty and 8 year battery warranty from CATL, the world's largest battery company.
The Tusker received full Australian Federal Government on road homologation vehicle type approval (VTA) approval in November 2024, following a rigorous testing and evaluation program by independent Australian Federal Government approved inspectors. VTAs are a critically important regulatory milestone in the Australasian pick-up truck market, which is estimated to be approximately US$10 billion. Without VTAs, vehicles are not considered homologated and cannot be legally driven on public roads across. They are crucial for ensuring that vehicles, including EVs, meet essential safety, environmental, and anti-theft standards before hitting the road. Under the Road Vehicle Standards (RVS) legislation, these approvals – managed by the Department of Infrastructure, Transport, Regional Development, and Communications – verify that EVs comply with stringent national regulations covering design, construction, and performance. As EV adoption accelerates, VTAs become vital in regulating new fully electric vehicle models in the market. They address unique EV-specific standards, such as battery safety and charging capabilities, helping manufacturers demonstrate compliance with local regulations.
About VivoPower
Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
About Tembo
Tembo electric utility vehicles (EUVs) are a 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners, helping to perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and seeks to further the circular economy. Tembo is a subsidiary of VivoPower, a Nasdaq-listed B Corporation.
Forward-Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.
Contact
Shareholder Enquiries
shareholders@vivopower.com
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