Volcon (VLCN) has released an update.
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Volcon, Inc. secured an exclusive deal in October 2022 to distribute and co-brand youth electric motorcycles with Torrot Electric Europa in the U.S. and Latin America. By January 2024, tensions arose as Volcon proposed to terminate the agreement, leading to a dispute over alleged unmet obligations. Torrot is claiming at least $3.691 million in damages and is preparing to sue in Spain, while Volcon stands firm in contesting these accusations and is ready to defend itself in court.
For further insights into VLCN stock, check out TipRanks’ Stock Analysis page.
