Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Vicinity Motor Corp V.VMC

Alternate Symbol(s):  VEV

Vicinity Motor Corp. is a Canada-based supplier of electric vehicles for both public and commercial enterprise use. The Company is engaged in the production and sale of buses and spare parts in North America. It leverages a dealer network and close relationships with manufacturing partners to supply its flagship electric, compressed natural gas (CNG) and clean-diesel vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its electric chassis alongside J.B. Poindexter business unit EAVX, which is the Company's partner, for upfitting into delivery vehicles. The Company's various buses and truck models include Vicinity Lightning EV, Vicinity Classic and VMC 1200. Its geographic segments include United Stated and Canada. The Company’s subsidiaries include Vicinity Motor (Bus) USA Corp. and Vicinity Motor (Bus) Corp.


TSXV:VMC - Post by User

Post by mobilityguyon Sep 24, 2020 4:54am
398 Views
Post# 31609803

Company can't even close small orders in the US - bad sign

Company can't even close small orders in the US - bad signFor all the talk the company has made about growing sales in the US it is very concerning when they can't even secure a small 2 bus order. I'm getting really tired of William Trainer and John Lagourgue pulling the wool over everyone's eyes. Things aren't as rosy as they would like you to believe. 

Capital Area Transit System San Marcos, Texas, July 30, 2020 board meeting.

Item 10 (D) Update on Pre-Authorized Bus Procurements, Consideration/Action on cancellation of contract two (2) 30-ft buses from Alliance Bus Group aka Grande West for non-performance and to re-issue a contract to Creative Bus Sales for two (2) 32-ft EZ Rider buses

Update on Pre-authorized Bus Procurements, Consideration/Action upcoming Bus Procurements Mr. Marsh reported On July 30, 2019 we issued a purchase order to Alliance Bus Group for two (2) thirtyfoot buses for San Marcos in the amount of $777,838.86. Despite repeated inquiries we have been unable to secure a schedule for the buses to be built and the company appears to show signs of instability. He recommends that PO be canceled for non-performance so that we do not risk the use of the funds by the grant expiring prior to the receipt of the buses. He indicated that in n consultation with the City of San Marcos we will order similar units from the State of Georgia Mass Transit Buy board. After discussion, the following motion was made: To authorize staff to cancel Purchase Order 2019-019 to Alliance Bus Group for non-performance in delivery and production of two (2) thirty foot transit buses and to issue a subsequent purchase order for similar buses under the Georgia Mass Transit Buy board in substitution of the cancelled order.

https://www.ridecarts.com/images/uploads/board_meetings/July_30,_2020_Final_Agenda_Filed.pdf

https://www.ridecarts.com/images/uploads/board_meetings/July_30_2020_Board_Meeting_Minutes.pdf

So they can't even fill a TWO bus order, and think they are going to get huge growth in the US market?
<< Previous
Bullboard Posts
Next >>