GARLAND,
Texas, Feb. 11, 2025 /PRNewswire/ -- Massimo
Group (NASDAQ: MAMO) is proud to announce the transition of its
MVR Golf Cart series production to its facility in Garland, Texas. By assembling these vehicles
domestically, Massimo ensures stricter quality control while
strategically positioning itself within the U.S. market. This move
aligns with the company's commitment to delivering
high-quality vehicles while adapting to the evolving trade
landscape.
Recently, U.S. trade regulators took action against unfair
practices in the low-speed personal transportation vehicle market.
A petition was filed highlighting how certain foreign
manufacturers, benefiting from government subsidies, were able to
export vehicles at significantly lower costs. This created an
uneven playing field. Following an investigation, the U.S.
Department of Commerce determined that these manufacturers engaged
in unfair trade practices. As a result, countervailing duties and
antidumping tariffs have been imposed, ranging from 149% to 500%,
depending on the manufacturer.
By shifting production to the U.S., Massimo is proactively
addressing these trade challenges while reinforcing its commitment
to high manufacturing standards. Additionally, the company is
actively exploring strategic partnerships in Vietnam to diversify its supply chain and
mitigate potential cost increases from tariffs affecting imports
from China.
"We are committed to providing our customers with the highest
quality golf carts while ensuring long-term business
sustainability," said David Shan,
CEO of Massimo Motor. "Bringing production to our Texas facility strengthens our supply chain,
enhances quality assurance, and positions us competitively in the
U.S. market. Our customers and dealer partners can continue to rely
on Massimo for innovative and reliable personal transportation
solutions."
Massimo will continue to offer its MVR Series golf carts through
its extensive network of retail and dealer partners across
the United States. This move
ensures continued product availability while reinforcing the
company's role as a leader in the personal transportation
market.
About Massimo Group
Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor
of powersports vehicles and pontoon boats. Founded in 2009, Massimo
Motor believes it offers some of the most value packed UTVs,
off-road, and on-road vehicles in the industry. The company's
product lines include a wide selection of farm and ranch tested
utility UTVs, recreational ATVs, and Americana style mini-bikes.
Massimo Marine manufactures and
sells Pontoon and Tritoon boats with a dedication to innovative
design, quality craftsmanship, and great customer service. Massimo
also manufactures electric versions of UTVs, golf-carts and pontoon
boats. The company's 376,000 square foot factory is in the heart of
the Dallas / Fort Worth area of
Texas in the city of Garland. For more information, visit
massimomotor.com and massimomarine.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
Massimo. All statements other than statements of historical facts
contained in this press release, including statements regarding
Massimo's future results of operations and financial position,
Massimo's business strategy, prospective costs, timing and
likelihood of success, plans and objectives of management for
future operations, future results of current and anticipated
operations of Massimo are forward-looking statements. In some
cases, forward-looking statements can be identified because they
contain words such as "anticipate," "believe," "estimate,"
"expect," "intend," "may," "predict," "project," "target,"
"potential," "seek," "will," "would," "could," "should,"
"continue," "contemplate," "plan," and other words and terms of
similar meaning. These forward-looking statements are subject to a
number of risks, uncertainties and assumptions, including, but not
limited to, risks relating to Massimo which may be affected by,
among other things, competition, the ability of the combined
company to grow and manage growth economically and hire and retain
key employees; costs; changes in applicable laws or regulations;
the possibility that Massimo may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties, including those under "Risk Factors" in filings with
the SEC made by Massimo. Moreover, Massimo operates in very
competitive and rapidly changing environments. Because
forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified and
some of which are beyond Massimo's control, you should not rely on
these forward-looking statements as predictions of future events.
Forward-looking statements speak only as of the date they are made.
No assurance can be given regarding the forward-looking
statements, and actual results may differ materially from those as
indicated. Massimo undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Company
Dr. Yunhao
Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com
Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com
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SOURCE Massimo Group
