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Vicinity Motor Corp
Symbol VMC
Shares Issued 34,894,584
Close 2022-01-05 C$ 4.69
Recent Sedar Documents

Vicinity Motor receives $3.5M order from First Transit

2022-01-05 18:12 ET - News Release

Mr. William Trainer reports

VICINITY MOTOR CORP. RECEIVES $3.5 MILLION CAD ORDER FOR EIGHT VICINITY CLASSIC BUSES TO FIRST TRANSIT COMPANY'S LEGACY PRODUCT LINE; MAINTAINS CLEAR MARKET LEADERSHIP FOR MID-SIZE HEAVY-DUTY TRANSIT BUSES IN CANADA

Vicinity Motor Corp. has received a new $3.5-million purchase order from North American private transit operator First Transit Inc. for eight Vicinity Classic buses.

Per the terms of the supply agreement, First Transit has ordered eight of the company's 35-foot Vicinity Classic buses for delivery in 2022. The buses will service the city of Yellowknife, Canada.

"Our Vicinity Classic buses continue to prove their popularity within the North American transit market as we continue to attract new orders from our continent-wide base of customers," said William Trainer, founder and chief executive officer of Vicinity Motor. "Our ability to grow alongside our customers and fulfill many of their transit needs as a one-stop shop is invaluable, particularly as many transit authorities begin to evaluate electric vehicles to supplement or replace their conventional diesel fleets in service today.

"I look forward to working closely with the team at First Transit to deliver these vehicles by end of year. Our goal is to improve the quality of public transit to the citizens of Yellowknife while concurrently reducing operating costs for transit operators -- thereby creating sustainable value not only for our shareholders, but for all stakeholders," concluded Mr. Trainer.

About First Transit Inc.

First Transit has more than 60 years of experience and is the largest private-sector provider of mobility solutions in North America, moving more than 300 million passengers annually. First Transit provides operation, management and consulting for more than 300 locations in 39 states, Canada and Puerto Rico for transit authorities, state departments of transportation, municipalities, airports, universities and private companies. First Transit employs more than 19,000 dedicated transit professionals.

About Vicinity Motor Corp.

Vicinity Motor is a North American supplier of electric vehicles for both public and commercial enterprise use. The company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG (compressed natural gas) and clean-diesel Vicinity buses, the VMC 1200 electric truck, and a VMC Optimal EV shuttle bus. In addition, the company sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the company's strategic partner, for upfitting into next-generation delivery vehicles.

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