We look forward to working closely with their team to get these vehicles into service, leveraging our robust access to working capital, helping Transdev to deliver value to the communities that they service. "Transdev in particular is one of the largest private operators and integrators of multiple modes of transportation in the world, operating in 19 countries across six continents. "Our strong legacy of North American market leadership in the mid-sized heavy-duty segment continues to provide a strong customer base for our transit bus business," added William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. We look forward to deploying our new Vicinity buses into revenue service in 2024." This latest order comes on the tail of a renewal and new additional contracts with EXO in Quebec. The Vicinity buses will service the greater Montreal, Quebec area.Īrthur Nicolet, Chief Executive Officer of Transdev Canada, stated: "Vicinity and Transdev Canada have developed a strong and fruitful collaboration as we have grown our business in Canada over the last decade. The Company anticipates delivering these vehicles leveraging its existing working capital position, supplemented by its working capital lines of credit. has ordered forty-two of the Company's 32-foot Clean-Diesel Vicinity™ Classic buses for delivery in 2024. Per the terms of the supply agreement, Transdev Canada, Inc. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of a new purchase order from global mobility leader Transdev for forty-two (42) Vicinity™ Classic buses. FY 2022 Adjusted EBITDA is expected to be over $10 million, with significant potential upside.ĬEO's vision of $1b in revenues in 5 years.VANCOUVER, BC / ACCESSWIRE / / Vicinity Motor Corp. Guiding 2022 deliveries expected to be of overĩ5x Vicinity™ Classic buses, 75x Lightning™ EV buses and chassis, 200x VMC 1200 EV trucks, and 300x Vicinity Optimal EVs to drive year-end revenues of over Guiding 2021 deliveries to be a minimum of 150 buses for revenues of at least $50 million. Price target of $15 CAD by Catalyst Equity Research, November 29th 2021. Price target of $25, by Spartan Capital, December 2nd 2021. Perfectly suited for ultra-quiet operation in urban environments. " Powered by cutting edge Li-Ion battery technology that provides up to 150 kWh of power, the VMC 1200 can't ravel up to 150 miles on a single charge. More about the vicinity Class 3 EV truck. through our partnership with ABC, driving forward a more sustainable public transit system." We look forward to expanding our reach and sales in the U.S. " With our production ramp up, we now have 25 (now 29) Vicinity Lightning™ EV buses in the production phase and are gearing up for significant growth. More about the vicinity Lightning EV bus. The facility is expected to begin operation in the first half of 2022.Īnnounced multiples contracts in the US while maintaining their leader position in the light and medium-duty bus segment. It's been designed with flexibility and expansion in mind to deliver up to 1000 vehicles a year. Ongoing construction of a new facility for the EV lines in Ferndale, Washington State. Uplisted from the OTCs to the Nasdaq on July 7 2021, from ticker $BUSXF to $VEV In February 2021, the State of New Mexico has selected Vicinity motors in a statewide purchasing contract that gives State transit agencies the right to purchase directly from the Company's diverse bus portfolio. In April 2021, the State of Washington has selected Vicinity buses in a statewide purchasing contract that gives State transit agencies the right to purchase from the Company's diverse bus portfolio. In July 2021, The California Association for Coordinated Transportation (CALACT) announced a Statewide contract for up to 8000 vehicles in 5 years. Currently, producing clean diesel and Compressed Natural Gas (CNG) models, VMC is also on the verge of manufacturing EV buses and trucks in their brand-new Washington's facility. Vicinity Motors, formerly Grande West Transportation Group, is a vehicle designer and manufacturer that specializes in mid-sized transit buses.
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