Massimo Group Announces Start Of Production In Vietnam For Its 2026 MVR Golf Cart And MVR Cargo Max Electric Utility Cart And Introduces New 48V 105Ah Lithium-Ion Battery Options For Its MVR Series Carts

Massimo Group (NASDAQ:MAMO), a manufacturer and distributor of powersports vehicles and products, today announced that production of its new 2026 MVR Golf Cart and MVR Cargo Max Electric Utility Cart has begun in Vietnam.

This strategic collaboration strengthens Massimo's global supply chain and supports the company's ongoing initiatives to enhance production flexibility and expand capacity for its rapidly growing lineup of electric vehicles.

Strategic Vietnam Partnership Enhances Global Capabilities

"Our partnership in Vietnam represents an important milestone in Massimo's continued evolution," said David Shan, Chief Executive Officer of Massimo Group. "By leveraging international manufacturing relationships, we're improving efficiency, lowering costs, and expanding our ability to meet accelerating demand across both recreational and utility markets."

The Vietnam production partnership enables Massimo to increase output while maintaining the company's quality and value standards for its dealer network and end customers worldwide.

Introducing New Lithium-Ion Power Options

Coinciding with this production expansion, Massimo is introducing new Lithium-Ion battery options across its MVR Series electric carts. The upgraded 48V 105Ah system delivers higher performance, longer lifespan, and greater efficiency compared to traditional lead-acid batteries.

Key benefits include:

• Significantly reduced weight for improved range and handling
• Faster charging and extended cycle life exceeding 5,000 charge cycles
• Built-in battery management and safety protections
• Maintenance-free, eco-friendly operation

"The addition of lithium power across our MVR lineup reflects the strong feedback we're hearing from dealers and customers," Shan added. "These updates make our products more competitive, more efficient, and better aligned with the future of electric mobility."

Positioned for Growth and Value Creation

Massimo's expansion into Vietnam and adoption of advanced battery technology are expected to improve gross margin performance, strengthen logistics, and support scalable international growth. These initiatives reflect the company's broader strategy to expand global manufacturing partnerships and deliver innovative electric solutions.