Vicinity Motor Reaches Battery Supply Agreement with Electro Vicinity Motor Reaches Battery Supply Agreement with Electrovaya to Power its Electric Buses, Trucks
2021-10-13 12:39:54 PM ET (MT Newswires)
12:39 PM EDT, 10/13/2021 (MT Newswires) -- Vicinity Motor (VMC.V) on Wednesday said it reached a supply agreement with Electrovaya (EFL.TO) for batteries for its zero-emission commuter buses and VMC 1200 Class 3 trucks.
The company said Electrovaya will supply batteries using "the latest Electrovaya NMC ceramic lithium-ion battery technologies".
"Sales momentum for our Vicinity LightningTM EV lines of buses and our new fully electric VMC 1200 Class 3 Truck continues to scale, and this agreement secures our supply chain for the crucial battery component of our platforms," chief executive William Trainer said in a release.
Vicinity shares were last seen down C$0.22 to C$6.83 on the TSX Venture Exchange. Electrovaya was C$0.18 to C$1.27 on the Toronto Stock Exchange.
Price: 6.83, Change: -0.22, Percent Change: -3.12