Evolectric is excited to share an exciting glimpse of this past week’s event hosted by the Los Angeles Clean Tech Incubator — a nonprofit organization that supports clean energy startups in moving their products and technologies to market.
Historic events occurred within government policy on August 12th, which included passing the Inflation Reduction Act which is set to secure billions in monetary funding to fight climate change nationwide. As highlighted in the Los Angeles Daily News, Evolectric was thrilled to showcase the team’s first-ever prototype in honor of this recently passed regulation to government leaders House Speaker Nancy Pelosi and Congressman Jimmy Gomez.
“One of LACI’s startups, Evolectric, converts gas-powered vehicles into electric ones — and gets them back on the street. That process, according to its co-founder Jakson Alvarez, who spoke at the event, is crucial to meeting carbon reduction goals. “Relying solely on brand new solutions will not be enough to meet our targets,” Alvarez said. (Quote from Los Angeles Daily News)
House Speaker Pelosi and Congressman Gomez also highlighted market opportunities and benefits that will result in the near future with the help of the Inflation Reduction Act as they toured LACI’s event that showcased the Evolectric Truck Solution proving success of the retrofit solution.
House Speaker Nancy Pelosi further supports the call to action of sustainability by stating economic successes that will flourish by participating in the advancement of clean technology. “To do so in a way that not only enables people to have jobs, but as we saw, growing equity, ownership, jobs [like] Evolectric. It’s about ownership, as well as job creation, both of them very important to the success of our economy and keeping our planet safe for the children,” House Speaker Pelosi emphasized.
The team was also able to discuss the benefits Evolectric sees from the Inflation Reduction Act to reaching targets of emission reduction and adoption of zero emission vehicles. The Inflation Reduction Act is providing tax credits for EV companies that invest in growing operations and jobs in the US, it will promote higher supply of US made batteries, it will increase availability and accessibility of charging infrastructure, and it will provide tax credits for vehicle purchasers and fleet owners that will accelerate the adoption of zero emission vehicles. This among many other long term benefits.
Furthermore, Evolectric’s very own, Co-Founder, Co-CEO and CFO, Jakson Alvarez highlighted the company’s ongoing vision and mission which is to advance global electrification by enabling and providing products and services that unlock current and new electrification technologies to emerging markets and underserved segments. Additionally, the team presented the overall process and evolution of the company’s core technology that presents a promising future in the world of commercial vehicles and the team’s commitment to making green mobility cleaner and more accessible.
The team is eager to continue accelerating this journey that paves the way to zero emissions on a global scale. Evolectric is looking forward to upcoming events to showcase future vehicle product launches as the company rapidly grow and expands their operations.