Envirotech Vehicles announces expansion into electric drone, watercraft sectors

Envirotech Vehicles (EVTV) announced a strategic expansion into the electric drone and watercraft sectors, targeting high-growth verticals across land, air, and sea. The Company plans to develop and acquire divisions focused on commercial and industrial electric drones, along with electric jet drive systems for watercraft. This move positions Envirotech to dramatically expand its total addressable market, diversify revenue streams, and capitalize on emerging government and commercial demand for clean, American-assembled mobility solutions. Key Market Opportunities Include: Agricultural Drone Market: Projected to reach $1.76B in the U.S. by 2030; Commercial & Industrial Drone Services: Infrastructure inspection, surveillance, logistics, and delivery, part of the global $58.4B drone services market by 2030; Electric Watercraft Market: Forecast to exceed $1.28B in the U.S. by 2032, including personal and light commercial vessels.Company Highlights And Growth KPIs: Targeting new revenue in 2025 from drone and marine product lines; Margins of 40-60% expected on proprietary jet drive systems and drone service contracts; Pipeline of 3 strategic acquisitions under review to accelerate time-to-market; Cross-sector EV platform advantage: ability to scale technology and supply chain across land, air, and sea applications; Expansion of recurring revenue through drone fleet services and aftermarket watercraft systems; Exploring DoD, FEMA, and USDA opportunities for dual-use drone and watercraft applications Envirotech will continue generating core revenue from its commercial EV portfolio-including electric buses, vans, and trucks-while projecting additional topline growth beginning in 2025 from: Electric drones with bundled service packages for agriculture, logistics, and infrastructure; Electric jet propulsion systems for kayaks, RIBs, inflatable boats, and utility vessels.The Company expects to announce further details regarding acquisitions and product launches later in Q2 2025.