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: $290 MCAD
Stock price at time of publication: $9.40 CAD ( reverse split price 3.13 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 $486 MCAD
Vicinity Motors will host a groundbreaking ceremony to mark the start of construction on the Company’s new “Buy America compliant” vehicle assembly facility in Ferndale, Washington on Friday, July 9, 2021.
The new facility will be the Company’s first U.S. assembly plant for Vicinity Motor Corp.’s growing line of electric, CNG, gas and clean diesel vehicles. The property is located near the Company’s Aldergrove, British Columbia, Canada Headquarters with easy access to port, rail and truck shipping and receiving facilities. Operations at the facility will include Buy America compliant assembly, pre-delivery inspections, research and development, as well as general technical work and servicing. The facility is expected to begin operation in the first half of 2022.
William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp., will lead the groundbreaking event. He will be joined by employees, state and local government officials including Washington State Governor Jay Inslee, and Roman Cornell, President ABC Companies, Vicinity’s U.S. distribution partner.
The ceremony will begin at 11:00 AM Pacific Time at 5354 Pacific Fern Dr, Ferndale, WA 98248, USA.
“We would like to extend an open invitation to customers and individuals interested in Vicinity and the future of sustainable public transit to join us at this ceremony,” said Trainer. “The day will mark the commencement of construction on our new U.S. assembly plant which will grow our production for Buy America compliant production for our Vicinity™ line of buses. We will also be making this the new home to support our newly announced industrial electric truck line starting with the VMC 1200. We have designed the facility with flexibility and expansion in mind to deliver up to 1000 vehicles a year.
“Support from the State of Washington and the local community has been instrumental to this launch, and we are honored to be celebrating the occasion with the Governor of Washington, Jay Inslee. With their support, we are privileged to expand our workforce in the United States by adding an expected 30 new jobs to start with, and the ability to increase personnel as demand grows.
“In conjunction with our uplisting to the Nasdaq today, this ceremony will mark two key milestones for our company and shareholders, and we look forward to celebrating the future of VMC with all in attendance,” Trainer concluded.
Roman Cornell, President ABC Companies, added, “As Vicinity’s U.S. distributor and close partner, we are excited to attend the ceremony, and to offer the exceptional Vicinity product line to our customers throughout the United States. Infrastructure, transportation and clean energy have never been more important, and the vehicles rolling off this production line and into the fleets of ABC Companies’ valued customers will play a key role in shaping the future of public transit.”
ESG comment: Vicinity Motors is our Top Pick in the Electric Vehicles sector , our latest analysis is found HERE. Today Vicinity Motors begins trading on the NASDAQ exchange (Ticker VEV) which marks a big day for the company. We are also delighted to take part of the news that the groundbreaking ceremony for the new Vicinity Motors US facility is taking place this friday (9/7) . Having a factory that is Buy America compliant is crucial for the company’s US expansion plans and with a factory capacity to deliver up to 1000 vehicles per year the growth is anticipated to be massive for the company’s sales in the coming years!
We own shares of this company personally.
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