Tag: vicinity motors corp

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
Website: https://vicinitymotorcorp.com/

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.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $223 MCAD
Stock price at time of publication: $7.23 CAD ( reverse split price 2,41 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 $545 MCAD
Website: https://vicinitymotorcorp.com/

Vicinity Motors today announced that the Nasdaq Stock Market LLC has approved the listing of the Company’s common shares on the Nasdaq Capital Market (“Nasdaq”).

The Company expects to begin trading on the Nasdaq on Wednesday, July 7, 2021 under the symbol “VEV”. The Company’s common shares will continue to trade on the OTCQX until market close on July 6, 2021. The trading symbols for on the TSX Venture and Frankfurt exchanges will remain unchanged.

“The listing of our shares on the Nasdaq represents a significant milestone for Vicinity Motor as we leverage our strong momentum to accelerate sales of our next-generation electric vehicle (EV) products,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “We believe a Nasdaq listing will help elevate the Company’s public profile, expand our shareholder base, improve liquidity and enhance shareholder value.”

“We continue to see traction in the marketplace, delivering 20% more vehicles in the first quarter of 2021 than we did in all of 2020 combined. We believe that our growth in the future will be driven by our breakthrough Vicinity Lightning™ EV bus, as well as our new VMC 1200 Class 3 EV truck. Both of which have seen strong support from government agencies, private operators, dealers and transit authorities for the electrification of their fleets. We expect additional EV innovations we have been developing to further solidify our position as a leader in this market. VMC is well positioned for continued growth and we have the human and financial resources in place necessary to support that growth. We look forward to sharing our story with a wider network of Nasdaq investors.”

ESG comment:
The long awaited NASDAQ uplisting confirmation has arrived and it’s a joy to see one of our biggest conviction portfolio companies advance to Wall Street. This opens up Vicinity Motors to a far larger private investor market as well as for larger institutional investors. It will be very exciting to follow how this can affect the stock price both on a short, medium and longer term especially since there are many more expensively valued competitors listed on the NASDAQ exchange.

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $2223 MCAD
Stock price at time of publication: $7.29 CAD ( reverse split price 2,43 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 $472 MCAD
Website: https://vicinitymotorcorp.com/

Vicinity Motor Corp today announced its Vicinity Lightning™ EV bus, as well as its recently announced line of EV trucks, have received eligibility for customer rebates of up to 33% of the purchase price through the Canadian Province of British Columbia’s CleanBC Go Electric Program.

The CleanBC Go Electric Specialty Use Vehicle Incentive Program is one of a suite of programs offered under the Province of BC’s CleanBC Go Electric Program. The program is funded through the Ministry of Energy, Mines and Low Carbon Innovation and is administered by the Fraser Basin Council Society. The program provides a maximum rebate of $100,000 or 33% of the purchase price per vehicle, whichever is lower. The program website link is https://pluginbc.ca/suvi/.

“This significant rebate opportunity for customers, such as this rebate in B.C., will propel the already strong momentum for our breakthrough Vicinity Lightning™ EV bus offering and recently announced VMC 1200 Class 3 EV truck,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “The continued support from the forward-thinking local, provincial and national governments of Canada for electrification is significant. The new rebates from the CleanBC Go Electric Program are intended to encourage and accelerate the adoption of zero-emission vehicles (ZEVs) in British Columbia for both their environmental and economic benefits – and our Lightning™ EV and VMC 1200 Class 3 truck perfectly aligns with these goals by providing the versatility to support countless transit and industrial applications.

“These savings can be significant for our prospective customers, ranging from over $40,000 for a medium duty Class 3 vehicle, to the maximum $100,000 for our extended range 168 kWh Vicinity Lightning™ EV. We believe the rebates will further position our EVs at a price point very suitable for mass deployment, increasing sales and building shareholder value,” concluded Trainer.

To view the new introductory sales video for the VMC 1200, please visit here.

ESG comment:
Vicinity Motors has previously sold over 200 buses to BC transit which operates over 1100 buses in British Columbia. This rebate is extremely beneficial for the company as the already have a strong presence in the Canadian province of British Columbia. This rebate should further help accelerate the electrification of British Columbia and also generate more sales for Vicinity Motors!

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $208 MCAD
Stock price at time of publication: $6,94 CAD ( reverse split price 2,31 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 $472 MCAD
Website: https://vicinitymotorcorp.com/

Vicinity Motors today announced the receipt of $7.5 million through the exercise of 1,924,726 warrants since the beginning of the first quarter of 2021.

The majority of the warrants exercised were since the date that Vicinity initiated the acceleration provision of its outstanding warrants issued in connection with its October 2020 private placement. As of the date of this press release, zero warrants remain outstanding in Vicinity.

“We are pleased to have received $7.5 million in proceeds from these warrant exercises, further fortifying our balance sheet,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “This stands as a testament to the value our shareholders see in our future prospects, and we would like to thank them for their ongoing support. We look forward to continued operational execution in the months ahead as we march towards a near-term targeted Nasdaq uplisting.”

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $200 MCAD
Stock price at time of publication: $6,70 CAD ( reverse split price 2,23 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 $500 MCAD
Website: https://www.grandewest.com/

Vicinity Motors , today released specifications for the new VMC 1200, a fully electric Class 3 medium-duty commercial truck.

Powered by a cutting edge 150 kWh Li-Ion battery and an electrical powertrain that provides up to 150 kWh of power and 800 Ft Lbs. of torque, the VMC 1200 has a 6,000-pound load capacity and an expected range up to 150 miles on a single charge. The medium duty electric truck leverages Vicinity’s proven EV experience in a popular cab-over design at an attractive price, making it well suited for urban environments and construction or delivery applications. 

Standard features include driver conveniences including a high-back comfort seat, keyless entry, air conditioning, power windows and door locks, 3-person seating and the ability to use the battery for on-site power, eliminating the need to transport large, noisy generators.  The vehicle is capable of fully charging from a level 3 EV fast charger in 2.5 hours and from a standard level 2 charger in as little as 5 hours. For a complete list of specifications, please visit the Company’s website at https://vicinitymotorcorp.com/images/VMC1200SpecificationsFlyer.pdf.

“With our final design specifications in place, the VMC 1200 can now be ordered by our robust network of existing dealerships throughout North America,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “Production of the vehicles is underway and commercial deliveries are scheduled to commence in the first quarter of 2022. Our sales team is already introducing the demonstration VMC 1200 model to our dealer network and are very pleased to see very strong interest in it.”

“Due to expected heavy order flow for the VMC 1200, we have planned production levels of up to 1,000 units in 2022. We look forward to building a strong source of supplemental growth through this zero-emission line of medium duty trucks to complement our full line of Vicinity Lightning™ and Classic buses.”

ESG comment:

Vicinity Motors keeps impressing us with their steady flow of news. This time its the product launch of a new fully electric class 3 vehicle . The product segment class 3 is high in demand as seen by the news that Electric last mile (ELMS) recently announced that they will be producing this type of vehicle from the second half of 2022. Another competitor Lightning eMotors are also active in the class 3 product segment.
As a fun comparison these SPAC competitor Lightning eMotors is valued at 600 MUSD with revenues expected to land between 50 – 60 MUSD for 2021 indicating an EV/sales multiple of 10 X.

Another SPAC competitor Electric last mile is valued at 1,4 BILLION USD with sales estimated at 122 MUSD for 2021 indicating an EV/sales multiple of 11,5.

Meanwhile Vicinity Motors is valued still at only 200 MCAD and we estimate that revenues for 2021 will be landing between 50-75 MCAD and for 2022 with this new product launch we estimate between 100-200 MCAD in revenues depending on production capacity.

These projections indicate an EV/Sales multiple between 2,5-4 for 2021 and 1-2 for 2022. It’s fair to say that Vicinity Motors , which are growing at triple digit speed is undervalued compared to other electric vehicle producers.

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $202 MCAD
Stock price at time of publication: $6,76 CAD ( reverse split price 2,25 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 $500 MCAD
Website: https://www.grandewest.com/

Vicinity Motors Corp today (16/6 2021) announced it has partnered with Danfoss Editron, a business division of Danfoss, to utilize its drivetrain systems in the medium duty fully electric Vicinity Lightning™ EV Bus.

Danfoss Editron specializes in hybrid and electric drivetrain systems for the marine, off-highway and on-highway markets. A business division of Danfoss, it develops and manufactures high-performance power systems for heavy-duty vehicles, machines, and marine vessels based on its unique synchronous reluctance assisted permanent magnet and inverter propulsion system technology.

The systems feature a Buy America Compliant 220kW motor with an Eaton multi-speed transmission. They are also fitted with a digital AVIONICS controller and inverter to enable the intelligent management of all the vehicle’s operations. Weighing only 85kg, Danfoss Editron’s drivetrain systems are significantly lighter in weight than other electric drivetrains on the market, which can weigh as much as 500kg. Manufactured in Danfoss Editron’s Colorado plant, these Buy America Compliant motors are a key part of the Vicinity Lightning™ product that will be assembled in the new VMC Washington State manufacturing facility.

William Trainer, Founder and CEO of Vicinity Motor Corp said, “The EDITRON drivetrain and the expert team at Danfoss Editron are an ideal partner for us as we continue to expand the breadth of our EV product suite. We have issued a purchase order for 300 of the company’s drivetrain systems to guaranty supply for our customers through 2022. We look forward to continue working with the team at Danfoss Editron to build a globally competitive, cost effective vehicle for our customers.”

Cliff Stokes Jr., Senior Sales Manager at Danfoss Editron, added, “Our commercial bus drivetrain has over 10 million miles on the road and is in use by commercial vehicle OEMs in North America, South America, Europe, China and India. It has been specifically developed to deliver high levels of torque efficiently at a wide range of rotational speeds, helping to maximize vehicle efficiency. We’re thrilled to add Vicinity Motor Corp and its promising electric bus program as another key customer in North America.”

ESG comment:

Vicinity Motors once again show they are leading the EV industry when it comes to new technology. They’ve previously announced a partnership with EXRO for Enhanced Powertrain System into Next-Generation Electric Bus Fleets and now as mentioned above, they’ve announce a partnership with Danfoss. Danfoss Editron specializes in hybrid and electric powertrain systems for the marine, off-highway and on-highway markets. The Buy America compliant motor from Danfoss should fit well into Vicinity’s plans to becoming the leading EV supplier in North America.

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.

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: $194 MCAD
Stock price at time of publication: $6,6 CAD ( reverse split price 2,2 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 $500 MCAD
Website: https://www.grandewest.com/

Hard work has paid off for Vicinity Motors which today proudly announced an initial order of 14 Vicinity Lightning™ EV buses worth $6 million from Calgary transit.

CEO William Trainer provided a comment with the announcement:
“

“Calgary Transit is one of Canada’s leading transit authorities, with a strong commitment to reducing vehicle emissions and environmental impact,” said William Trainer, Founder and CEO of Vicinity Motor Corp. “This first order marks the beginning of a valuable partnership with Calgary Transit as they diversify their fleet and mitigate exposure to energy and carbon costs.

“As cities around the world seek to meet climate goals, the demand for sustainable, zero emission transit options like our breakthrough Vicinity Lightning™ EV will continue to grow. We look forward to introducing our electric vehicles to the people of Calgary in the short-term and continuing to build value for our shareholders with the continued momentum in our next-generation Vicinity Lightning™ EV line.”

ESG Comment: Calgary Transit has the potential to become avery big customer for Vicinity Motors since they have a fleet of over 1000 buses. The contract that was signed runs over 5 years with an option to buy additional vehicles. The order is expected to be delivered in 2022.
Vicinity Motors most likely won this bid over other several actors since this was a public bid process. We see it as a very strong sign of the customer adaption and customer service orientated focus that Vicinity Motors has displayed to win this bid. Their Vicinity Lightning™ EV buses seems to constitute the best value for money in the public transit market judging by this recent order. This order is also most likely the first of many as a result of winning public bidding processes.

We own shares of this company personally.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. My posts are made for Educational purposes only and are not to be interpreted as tips , financial advise or recommendations of any kind to either buy or sell any stocks.

Companies may or may not be paying us for content posted on this blog.