VANCOUVER, BC / ACCESSWIRE / July 17, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of new follow-on purchase orders from two Québec, Canada transit operators for three (3) Vicinity™ Classic buses.
Per the terms of the supply agreements, Robert Paquette Autobus et Fils Inc. ordered one (1), and Les Autobus Transcobec (1987) Inc. ordered two (2) Vicinity Classic Clean Diesel buses, which will be in service with Canadian public transit agency EXO. The Vicinity Classic buses - for delivery in 2025 - will service the communities of Mirabel and Saint-Jérôme.
"Our flagship Vicinity Classic transit bus continues to serve as a reliable workhorse for our clients across the continent - driving a solid base of revenue for our fuel neutral, autonomous ready bus segment," said Brent Phillips, President of Vicinity Motor Corp. "Repeat and long-term blue-chip customers like these validate the Vicinity Classic's status as the market leader in the Canadian mid-sized heavy duty segment, with 90% market penetration. The Vicinity Classic's low upfront cost - combined with proven durability and fuel savings - make it an ideal choice for our large base of satisfied transit operators.
"The Vicinity Classic's strong market position with transit operators also provides a solid base for our growing product mix, including the Vicinity Lightning electric transit bus and VMC 1200 Class 3 electric truck. As needs evolve, our direct sales model for transit buses and the resulting open line of communication puts us front and center for operators looking to begin their electrification journey. We look forward to working closely with Transcobec and Paquette to deliver these vehicles next year," concluded Phillips.
About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.
Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com
Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us