Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , US OTCSOON to be up listed at Nasdaq
Ticker: VMC.V (previously BUS ,)  BUSXF at US OTC
Market cap at time of publication: $210 MCAD
Stock price at time of publication: $7,26 CAD ( before reverse split 2,48 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 $515 MCAD

Vicinity Motors ( formerly known as Grande West Transportation Group) today (29/3 2021) announced that they’ve received an initial orders for 10 Vicinity Lightning™ EV buses from its strategic U.S. distribution partner ABC Companies (“ABC”), a leading provider of motorcoach, specialty and transit equipment in North America.

The company stated that” the order is the first from ABC, who recently entered an agreement with Vicinity Motors to distribute its full line of products which currently includes the Vicinity™ heavy duty mid-size bus, the Vicinity Lightning™ EV and Vicinity™ LT light duty models in the United States. The Vicinity line fills key transit and private shuttle roles within the ABC vehicle portfolio, enhancing its offerings to current customers while expanding sales further into the US transit market. “

CEO William Trainer provided a very bullish market comment in conjunction to the press release

” “We anticipate high demand for our clean, sustainable Vicinity Lightning™ EV, and these initial orders mark the beginning of a valuable partnership with the excellent team at ABC,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motors. “People are recognizing the need to move people more efficiently using proven zero emission technology with a smaller environmental footprint, and governments are responding to these demands. In fact, just last week the Government of Canada announced a $2.75 billion investment over the next 5 years that includes zero-emissions public transit and school buses. With our production ramp up, we now have 25 Vicinity Lightning™ EV buses in the production phase and are gearing up for significant growth. We look forward to expanding our reach and sales in the U.S. through our partnership with ABC, driving forward a more sustainable public transit system,” concluded Trainer.

ESG comment: Due to this latest initial order from ABC I raise my personal estimate for the companys sales in 2021 from my initial spann of  $55-75 MUSD to a revenue spann of $70-80 MUSD. Considering how well sales have already gone in 2021 this new estimate should be within clear reach for the company.
I also would like to reiterate that Vicnity Motors already has orders confirmed for delivery in 2021 which now totals revenues of ~$60 MUSD.
This latest order alone should be worth around $3 MUSD based on a conservative price of $300 000 USD per Vicinity EV bus.

Should my new estimate of sales for 2021 come true Vicinity Motor Corp is now trading at 2,6X sales for 2021 compared to their peer comparison Greenpower motor trading at 33X sales for 2021. The company is very attractive in terms of evaluation and with the upcoming Nasdaq listing this is an fast growing EV stock to definately keep your eyes on!

I remind all readers that Grande West Transportation effective from 29/3 2021 is trading as Vicinity Motor Corp under the NEW SYMBOL $VMC. There is also a reverse stock split today which means 3 stocks will become one and the closing price of friday (2,42) equals an opening price of 7.26 CAD.

 I own shares in this company personally and this is not to be considered financial advice, always do your own research!

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