Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , US OTC SOON to be up listed at Nasdaq
Ticker: VMC.V (previously BUS ,) BUSXF at US OTC
Market cap at time of publication: $210 MCAD
Stock price at time of publication: $7,18 CAD ( reverse split price 2,39 CAD)
Business: Leading supplier of electric, CNG, gas and clean-diesel buses for
both public and commercial enterprise use in the U.S and Canada
Comparable peer : Greenpower Motor , Market cap $500 MCAD
Vicinity Motors Corp announced yet another order today , this time the order consists of 4 Vicinity low emission diesel buses for County of Simcoe, Canada. The buses are expected to be delivered in the first half of 2022 and adds to the companys growing order backlog.
The company issued the following statement following the order:
“We are pleased to have secured this $1.6 +million agreement with the County of Simcoe, continuing our strong legacy as a leading bus supplier within the robust Canadian market,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “Our core business and strong reputation provide a springboard as we help enable the transition to low-emission and zero-emission options at public transit agencies across North America. We look forward to continued traction in our home market in the quarters ahead, supporting us as we expand into the lucrative U.S. market alongside our tier-1 distribution partners.”
ESG comment: Vicinity Motors Corp is our top pick in the EV vehicles sector. The company is growing at an ever increasing pace and have many exciting catalysts coming up including their NASDAQ uplisting and launch of their new US facility. In our previous blogpost about Vicinity Motors Corp on the 27th of april we summarized the milestones of 2021. Vicinity Motors is trading at around 3X sales for 2021, compared to their competitor Greenpower Motor trading at 34 X sales for 2021. We remain assured that VMCs evaluation sooner or later will catch up with the equivalent of its peers in the Electric Vehicles sector.
I own shares of this company personally.
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