Volcon enters multi-year distribution agreement with Ventura

Volcon has entered into a multi-year distribution agreement with Brazilian importer, Comfort Industria E Comercio LTDA with a minimum purchase requirement of $12M over a three year period beginning in 2023. The Importer Agreement was effective March 31, 2023, and includes up to five additional countries with up to $3.4 million of additional minimum purchase requirements. Sales in these additional countries is contingent upon approval from a component supplier to the Stag to sell into these countries. The Importer Agreement will renew in 2026 if Ventura meets its sales performance targets outlined in the agreement and will renew thereafter for consecutive two-year periods. For each consecutive renewal period, and unless otherwise agreed, the minimum purchase requirements under the Importer Agreement will increase by 5% over the then existing minimum purchase requirements. With the Ventura relationship, Volcon seeks to expand its dealership network into several other countries in the South and Latin American regions via Ventura’s established distribution network.