 |
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
[email protected]
Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
[email protected]
