Envirotech Vehicles to Acquire AZIO AI in Definitive Merger, Sponsors Indianapolis 500
Envirotech Vehicles signed a definitive merger agreement to acquire 100% of AZIO AI shares, forming an AI infrastructure, high-performance compute and energy-backed platform. Company also secured 2026 Indianapolis 500 sponsorship with Rahal Letterman Lanigan Racing and Louis Foster to boost enterprise visibility in AI and energy systems.
1. Definitive Merger Agreement
On May 20, Envirotech Vehicles and AZIO AI executed a definitive merger agreement under which EVTV will acquire 100% of AZIO AI’s issued and outstanding shares. The combined entity will integrate AZIO AI’s GPU infrastructure and high-performance compute capabilities with EVTV’s energy solutions to develop a scalable AI infrastructure and energy-backed platform, subject to customary conditions including due diligence, regulatory review, and shareholder approval.
2. Indianapolis 500 Sponsorship
Concurrent with the merger, EVTV and AZIO AI launched a joint sponsorship at the 2026 Indianapolis 500 alongside Rahal Letterman Lanigan Racing and driver Louis Foster. The initiative aims to enhance strategic brand visibility, foster enterprise relationships, and engage technology ecosystem stakeholders in AI infrastructure, predictive simulation, telemetry and energy optimization sectors.