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Vicinity Motor Corp
Symbol VMC
Shares Issued 30,830,471
Close 2021-10-01 C$ 7.40
Recent Sedar Documents

Vicinity to develop trucks with JB Poindexter's EAVX

2021-10-01 16:21 ET - News Release

Mr. William Trainer reports

VICINITY MOTOR CORP. EXECUTES STRATEGIC COLLABORATION AGREEMENT WITH JB POINDEXTER & CO'S BUSINESS UNIT, EAVX, TO EXPAND ITS PRODUCT OFFERINGS

Vicinity Motor Corp. has entered into a strategic collaboration agreement with JB Poindexter & Co. business unit EAVX, whose mission is to envision and develop next-generation alternative-fuelled commercial work truck bodies. This collaboration will integrate EAVX bodies with the existing Vicinity bus and truck motor chassis. Vicinity Motor seeks to lead the global transition to more sustainable vehicles by expanding existing product lines and creating solutions for new customer segments.

"We have been looking forward to this partnership with EAVX, a new JB Poindexter business unit who is on the forefront of technology innovation," said William Trainer, chief executive officer of Vicinity Motor. "Vicinity has strong engineering and manufacturing expertise, and we believe that it is a natural transition to modify our proven electric bus chassis to accommodate walk-in van applications. Additionally, we believe there is significant demand through our existing municipal customer base for work truck solutions leveraging our new VMC 1200 Class 3 truck."

The proposed objectives of the collaboration include:

  1. The development of a next-generation Class 3 electric truck for municipal fleet applications;
  2. The development of a next-generation Class 5/6 truck for walk-in van applications.

"We have a long history of creating the best work truck and commercial vehicle bodies and accessories, and we plan to continue to expand our capabilities by providing alternative-energy vehicles through this partnership with VMC," said John Poindexter, chief executive officer and chairman, JB Poindexter & Co.

"As our municipal and commercial customers evaluate the decision to convert fleets from internal combustion engines to alternative fuel, such as EVs [electric vehicles], the total cost of ownership is a primary factor," said EAVX chief operating officer and general manager Mark Hope. "Working with Vicinity Motor will enable us to offer vehicle solutions that help lower the cost of fuel and maintenance, and expedite the adoption of EVs in the municipal and commercial vehicle markets."

About Vicinity Motor Corp.

Vicinity Motor is a leading supplier of electric, CNG (compressed natural gas) and clean-diesel buses for both public and commercial enterprise use in the United States and Canada. The company's flagship line of Vicinity buses, which maintains a market segment leadership position in Canada, is produced by the company's world-class manufacturing partners or at the soon-to-be-completed, Buy America Act-compliant assembly facility being built in Washington State. Vicinity's innovative Vicinity Lightning bus, enabled through a strategic supply agreement with BMW for batteries and components, seeks to lead the global transition to more sustainable transit vehicles in the private and public markets.

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