Envirotech Vehicles Inc (NASDAQ: EVTV) is a multi-segment company that assembles and sells commercial zero-emission electric vehicles and is developing power-driven AI data infrastructure and drone systems. Revenue has come primarily from commercial EV sales, using a semi-knocked-down assembly model in which chassis and subassemblies are sourced from OEM suppliers in China and Malaysia and finished in-house. The company is headquartered in Houston, Texas, as of its relocation prior to the FY2025 period. As of December 31, 2025, backlog stood at two zero-emission Class 4 trucks and 38 zero-emission Class 4 cargo vans. The company reported a net loss of approximately $39.1 million for the year ended December 31, 2025, and an accumulated deficit of approximately $112.6 million as of December 31, 2025. Going-concern doubt has been formally disclosed in the FY2025 10-K filed April 13, 2026. AI data infrastructure and drone systems initiatives had not generated commercial revenue as of December 31, 2025. The company employed 293 full-time employees as of December 31, 2025.

Revenue model

Transactional sales of assembled commercial electric vehicles, primarily Class 4 trucks and cargo vans, to fleet operators and institutional customers. AI data infrastructure and drone systems segments had not commenced commercial sales or recognized revenue as of December 31, 2025 (per 10-K filed 2026-04-13).

Products and services

Zero-emission Class 4 electric trucks and Class 4 electric cargo vans assembled via semi-knocked-down (SKD) model. AI data infrastructure solutions integrating compute hardware, power systems, and thermal management, in development as of December 31, 2025. Heavy-lift industrial drone platform designed for approximately 500-pound payloads targeting agricultural, fire suppression, and forestry applications, in research and development as of December 31, 2025. Medical supplies manufacturing operations in Houston.

Customers and end markets

Fleet operators and institutional customers for commercial EVs, with purchasing decisions historically influenced by federal and state incentive programs. Government agencies and commercial enterprises as target customers for AI data infrastructure. Agricultural operators, forestry, and fire suppression entities as target end markets for drone systems. Hyperscale operators named as potential AI infrastructure customers.

Value-chain role

Downstream assembler and integrator. Sources vehicle chassis, bodies, and subassemblies from OEM suppliers in China and Malaysia in SKD form, then performs final assembly, integration, and configuration in Houston. Also conducts in-house hardware integration for medical supplies and is developing power-plus-compute infrastructure bundles.

Geographic exposure

Primary operations in Houston, Texas, as of December 31, 2025. EV supply chain includes OEM sourcing from China and Malaysia. AI infrastructure site evaluation active in South Texas as of FY2025.

Source: SEC 10-K, filed 2026-04-13

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