Company: Vicinity Motor Corp (formerly Grande West Transportation)
Ticker: VMC.V (previously BUS,) VEV
Market cap at time of publication: $251.11 MCAD
Stock price at time of publication: $8.15 CAD ( reverse split price 2.77 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 today announced that it has received an initial order from a private operator in British Columbia for 10 VMC 1200 Class 3 Trucks valued at over $1.0 million.
“We are thrilled to receive our first order for our recently announced all-new Vicinity 1200 Fully Electric Class 3 Truck designed for urban environments and construction or delivery applications,” said William Trainer, Founder and CEO of Vicinity Motor Corp. “As companies seek solutions to diversify their fleets and mitigate exposure to energy and carbon costs, we expect strong interest in the VMC 1200 and are pleased to have our first order so quickly.
We believe the market conditions are ideal for a medium-duty electric truck with a 6,000-pound load capacity, expected range up to 150 miles on a single charge, and a popular cab-over design – all at an attractive price. We expect to see additional orders as we continue to introduce the VMC 1200 across our dealer network to potential customers in a market that sees over 400,000 vehicles sold per year.”
The order of 10 VMC 1200 Class 3 Trucks are scheduled for delivery in Q1 2022.
ESG comment : We are pleased and excited to see that our top pick in the electric vehicles sector vicinity motors already has received its initial order for their new Class 3 truck.
We believe this is a huge potential revenue stream not factored into the share price at all. We are looking forward to closely following the development of the sales for this vehicles class . We believe this is only the start of sales for vicinity Motors in the huge last mile delivery electric vehicles sector.
We own shares of this company personally.
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