NEW YORK, NY / ACCESSWIRE / May 21, 2018 / ADOMANI shares exploded on Friday after the electric and hybrid vehicles and replace drivetrains provider announced a backlog increase of 41% to $6.5M. Shares of Tesla saw a slight loss despite CEO Elon Musk revealing that the company will begin to deliver Dual-Motor Model 3s in July.
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ADOMANI, Inc. shares were on fire in Friday trading, closing up the day 80.65% on nearly 10.5 million shares traded. The provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership, announced its backlog has increased 41% to $6.5 million as a result of the recent receipt of a purchase order from Blue Bird Corporation for additional zero-emission electric drivetrain systems for Blue Bird's all-electric Vision Type C and All American Type D school buses. CEO Jim Reynolds commented, "We are excited to see the enthusiasm and eagerness to adopt the zero-emission technology from transportation professionals and community leaders in many states. With state alternative fuel purchase incentives and the Volkswagen Mitigation Trust funds available for electric school buses, fleet owners in states such as California and New York may be eligible for funding that ranges from $150,000 to $220,000 or more for each electric school bus. Combine this with the fact that the final product is coming from the premier school bus industry leader in the United States and Canada with an established dealership network for sales, maintenance, and warranty, and the choice of these zero-emission school buses is very compelling." Delivery of the entire backlog is expected this year.
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Tesla, Inc. shares closed down 2.71% on Friday on roughly 7.1 million shares traded. The electric vehicle maker's Model 3s equipped with an AWD dual-motor option are almost ready to ship. The company's CEO Elon Musk took to Twitter to announce specifics and pricing. The Model 3 with Performance trim will be available for $78,000. According to Musk, the car with 20-inch wheels as well as a carbon fiber spoiler and black and white interior, will be "about" the same as the M3 from BMW. Tesla also said however that the Model 3 will supposedly be faster by 15%. Musk tweeted, "Working on Model 3 dual motor all-wheel drive & performance versions. Driving feel is amazing. Aiming to release config late tonight." He further said, "Cost of all options, wheels, paint, etc is included (apart from Autopilot). Cost is $78k. About same as BMW M3, but 15% quicker & with better handling. Will beat anything in its class on the track." In another tweet, he specified, "Cost of normal dual motor AWD option is $5k. Range is also 310 miles. Takes 0-60mph to 4.5 sec & top speed to 140 mph."
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