AeroVironment Subsidiary Telerob Bags Multi-Million Dollar Unmanned Ground Vehicle Order

AeroVironment, Inc. (NASDAQ:AVAV) subsidiary, Telerob Gesellschaft für Fernhantierungstechnik mbH (Telerob), has received a multi-million dollar firm-fixed-price order from the Latvian Ministry of Defense (MoD).
The order encompasses the procurement of telemax EVO HYBRID and tEODor EVO unmanned ground vehicles (UGVs) and engineering support to the Latvian National Armed Forces.
The company expects to complete the delivery in late 2021.
The tEODor EVO is purpose-built for explosive ordnance disposal and disarming improvised explosive devices. The telemax EVO HYBRID is a versatile UGV with compact dimensions and a lift capacity of up to 82 pounds (37 kilograms).
Price Action: AVAV shares closed lower by 0.12% at $86.15 on Tuesday.