18:00:33 EDT Fri 09 Jun 2023
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Vicinity Motor Corp
Symbol VMC
Shares Issued 35,248,934
Close 2022-02-18 C$ 4.58
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Vicinity receives $12M order for 100 VMC 1200 EV trucks

2022-02-18 16:12 ET - News Release

Mr. William Trainer reports


Vicinity Motor Corp. has signed a sales and marketing agreement with Paradigm Automotive Corp., an automotive sales, leasing and upfitting company in Ontario, Canada, including an initial $12-million order for 100 VMC 1200 Class 3 electric trucks.

Paradigm has also been appointed to act as Vicinity's exclusive dealer in the Hamilton and Niagara regions of Ontario. The VMC 1200 deliveries are expected to begin in the second quarter of 2022.

"This announcement further solidifies our footprint within the greater Ontario area and further validates our VMC 1200 -- which has had an incredibly strong market reception to date," said William Trainer, founder and chief executive officer of Vicinity Motor. "Paradigm represents a fantastic partner in their respective markets in Hamilton and Niagara and we look forward to working closely with them in the months ahead to provide their wide base of customers with an exciting all-electric alternative to their current Class 3 fleets."

Rob Burda, general manager at Paradigm, added: "There are few Class 3 EV [electric vehicle] trucks readily available on the market today, and, given the ample range, straightforward operation and attractive price of the VMC 1200 -- paired with Vicinity's long-standing reputation for quality -- makes it a solid contender for everyday use on job sites. The VMC 1200 EV truck stands in a class of its own and I look forward to introducing this exciting new EV to our established base of customers."

With strong sales momentum continuing, management is pleased to announce that sales backlog is in excess of $100-million.

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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