Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , NASDAQ
Ticker: VMC.V & VEV
Market cap at time of publication: $138 MCAD
Stock price at time of publication: $3.96 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 $204 MCAD
ESG comment: Today (19/1 2022) came yet another order large order announced from Vicinity Motors! The orders are flowing and we are very happy about the development for the company’s order intake! News in full below!
Pioneer Auto Group to Act as Vicinity’s Exclusive Dealer in British Columbia
VANCOUVER, BC – January 19, 2022 – Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced that it has secured a CAD $14 million order from Pioneer Auto Group (“Pioneer”), a leading retail automotive dealer in British Columbia, for 100 VMC 1200 Class 3 electric trucks. The Pioneer Group has been appointed to act as VMC’s exclusive dealer in the province of British Columbia – this follows a previous letter of intent.
Pioneer is a well-respected Canadian dealership group with 17 locations located chiefly throughout British Columbia, Canada. The company retails over 6,000 vehicles per year and carries over 1,500 vehicles in its network including Mitsubishi, Honda, Chrysler, Dodge, Jeep and RAM models. The VMC 1200 trucks should start arriving to Pioneer in the second quarter of 2022.
“We are pleased to announce this order with Pioneer Auto Group, our exclusive dealer in the province,” said William Trainer, Founder and CEO of Vicinity Motor Corp. “Given their significant presence across British Columbia and strong brand recognition in the region, we believe they are an ideal retailer for a practical vehicle such as our all-electric VMC 1200.
“The VMC 1200 has proven extremely popular – I have seen significant preliminary interest for hundreds of additional VMC 1200 vehicles. This impressive indicative demand from our continent-wide dealer network positions us well to continue an exciting sales cadence throughout 2022. The first VMC 1200 trucks will be delivered from our Canadian operations and then manufacturing will shift to our new Washington state facility that is scheduled to come online late in the second quarter of 2022,” concluded Trainer.
Ray Van Empel, President and CEO of Pioneer Auto Group, added: “As a leader in British Columbia, we eagerly await the first shipment of VMC 1200 vehicles in the early second quarter of 2022. I believe that VMC’s brand reputation positions this product line for success across our portfolio of dealerships province-wide.”
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