Volcon Inc. announced it has entered into a multi-year distribution agreement (the “Importer Agreement”) with Brazilian importer Comfort Industria E Comercio LTDA (“Ventura Experience” or “Ventura”) with a minimum purchase requirement of $12 million (up to $17.2 million if full sales forecast for Brazil is met) 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 (up to $4.8 million if sales forecast is reached). 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.
“We are thrilled to announce our new distribution agreement with Ventura, which will bring Volcon Electric Vehicles to five new countries in South America. Ventura is an impressive company with a proven track record in the industry, and we look forward to working together to bring sustainable and innovative products to customers throughout the region,” said Melissa Coffey, vice president of global sales and business development at Volcon.
“After a chance to visit each other’s cities, teams and facilities, the opportunities to collaborate became clear to us. We knew we wanted to work with them and started putting steps in place to bring this relationship to fruition,” said Cristian Liani, International Sales Manager at Volcon. “This agreement is a testament to the hard work and dedication of both teams, and we’re excited to see what we can accomplish together.”
“We are incredibly excited to partner with Volcon and bring their innovative, sustainable electric vehicles to our customers in Latin and South America. With our 40 years of powersports distribution expertise and Volcon’s groundbreaking products, we have the opportunity to create a better, cleaner future. As an established leader in the industry, we recognize the importance of sustainable innovation and cannot wait to expand our portfolio with Volcon’s all-electric powersports products. We are confident that our joint efforts will result in a successful and sustainable business venture, and we look forward to showcasing the Volcon line of products to our dealers and customers at our upcoming dealer conference in July. With our commercial headquarters in São Paulo and our extensive network of dealerships, we are well-positioned to help Volcon expand their dealership network throughout South and Latin America,” said Andre Motta, owner/CEO of Ventura.
Ventura plans to launch the Volcon line of products this July at its bi-annual dealer conference, where Volcon team members will participate in revealing the product lineup to dealers attending the conference. With Ventura’s current UTV and four-wheel lineup being primarily diesel-powered, Ventura is excited to bring Volcon electric vehicles to its customers and community. Prior to the launch of Volcon products at its dealer conference, the company plans to have members from Ventura join it in Austin this spring for its dealer demo day. Coffey continued, “A relationship of this kind has the potential to create endless opportunities for both parties, and we’re ecstatic to start working together and exploring what the future holds.”
