Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , NASDAQ
Ticker: VMC.V & VEV
Market cap at time of publication: $164 MCAD
Stock price at time of publication: $4.69 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 $236 MCAD
ESG comment: Only one day after the big 19 MUSD order for all electric vehicles Vicinity Motors announce the sales of eight Vicinity Classic at a total of 3,5 MCAD . No wonder Vicinity Motors is our top pick in the electric vehicles sector! The company is trading at just 1 X sales for 2022 and considering the target price that foresee an upside of 300-700 % Vicinity Motor should have a great year ahead!
VANCOUVER, BC – January 5, 2022 – Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced the receipt of a new CAD $3.5 million purchase order from North American Private Transit Operator First Transit for eight (8) Vicinity™ Classic buses.
Per the terms of the supply agreement, First Transit has ordered eight (8) of the Company’s 35-foot Vicinity™ Classic buses for delivery in 2022. The buses will service the city of Yellowknife, Canada.
“Our Vicinity™ Classic buses continue to prove their popularity within the North American transit market as we continue to attract new orders from our continent-wide base of customers,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “Our ability to grow alongside our customers and fulfill many of their transit needs as a one-stop-shop is invaluable, particularly as many transit authorities begin to evaluate electric vehicles to supplement or replace their conventional diesel fleets in service today.
“I look forward to working closely with the team at First Transit to deliver these vehicles by end-of-year. Our goal is to improve the quality of public transit to the citizens of Yellowknife while concurrently reducing operating costs for transit operators – thereby creating sustainable value not only for our shareholders, but for all stakeholders,” concluded Trainer.
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