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Vicinity Motor Corp VEV


Primary Symbol: V.VMC

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 russteron May 03, 2022 1:45pm
400 Views
Post# 34651845

News

News


Tue May 03 11:06:01 2022 EDT

11:05 AM EDT, 05/03/2022 (MT Newswires) -- Exro Technologies (EXRO.TO) on Tuesday said it has reached an agreement to supply high-voltage coil drive systems to electric bus manufacturer Vicinity Motor Corp. (Nasdaq: VEV), pushing its shares about 8% higher at last look.

The clean technology company said the agreement includes a first lot purchase order of 100 units with up to 2,500 units planned for delivery over the 36-month term. It didn't disclose the value of the contract.

Exro said it will also provide electric vehicle design and engineering services to Vicinity for additional revenue.

Sue Ozdemir, CEO of Exro, said the work with Vicinity highlights the company's ability to customize and scale its coil drive system to meet heavy-duty bus requirements and meet net-zero manufacturing requirements with its Calgary facility.

Price: 1.44, Change: +0.11, Percent Change: +8.27

SID(MTNA2653095)


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