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: $191 MCAD
Stock price at time of publication: $6,5 CAD ( reverse split price 2,16 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 , the top pick for ESGFIRE in the electric vehicles sector, today announced the news that they are launch a medium-duty electric bus which targets the urban delivery market. The EV truck is expected to appeal to customers in urban delivery applications with daily usage under 150 miles. Vehicles will be sold through a robust network of existing dealerships throughout North America. Full production and commercial deliveries of the VMC trucks is scheduled to begin in the fourth quarter of 2021.
William Trainer CEO of VMC commented :
“The premiere of the VMC electric truck is an incredible milestone for not only Vicinity, but for the industry as it transitions towards true zero-emissions,” said William Trainer, Founder and CEO of Vicinity Motor Corp. “The VMC truck will be an environmentally friendly alternative for diesel vehicles more commonly used in this segment. We designed our electric truck to be a cost-effective, user-friendly vehicle with the ability to charge using standardized solutions, requiring no major infrastructure upgrades on the part of our customers. We’ve leveraged our world class technology to engineer this one-of-a-kind vehicle with our customer in mind – and the result is another industry first.
ESG comment: Vicinity motors expects to sell over 5000 units of this new electric vehicles type in a market that annually sells over 400 000 trucks. The company also states that they have locked in production levels for orders of up to 200 units in 2021 alone.
The company undoubtedly looks to be moving towards a major market penetration breakthrough!
We own shares of this company personally.
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