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: $7,11 CAD ( reverse split price 2,37 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 (27/4 2021) announced a new cooperation with the innovative and leading clean tech company Exro Technologies.
This cooperation is yet another step by Vicinity Motor Corp to improving the next generation state of the art Vicinity electric bus.
The supply agreement will according to the press release “validate and deploy an optimized electric powertrain utilizing the Coil Driver™ technology for Vicinity’s suite of electric buses”.
The press release stated that ” Exro will supply the Coil Drive System technology and Vicinity will conduct operational validation through deployment of an optimized electric powertrain for VMC’s suite of electric buses. The Coil Drive System solution will enable the next generation of electric buses with improved performance that accelerates the transition to a sustainable public transit system. VMC will test and validate the Coil Driver™ powertrain integration with the intent of implementing it in future serial production batches of the electric bus product line.”
ESG comment: It’s impressive to see Vicinity Motor Corp proving point after point that they are the THE leading electrical vehicles company when it comes to public transportation. After recently having partnered with Kontrol Energy this is yet another step to improve the next generation of electric vehicles buses .
Vicinity Motor Corp has so far this year announced very impressive progress:
-Upcoming uplisting to NASDAQ
-Strategic U.S. Distribution Partnership with ABC Companies which also has resulted in orders of 10 Ev buses
–New Mexico Statewide Contract
-Washington state wide contract
-Orders for 15 vicinity buses worth over 6 MUSD
Management stated in the latest full year report on the 31st of march that they expect to deliver over 100 vicinity buses in the first half of 2021 compared to 55 buses for the entire year of 2020. Vicinity Motors already has orders confirmed for delivery in 2021 which now totals revenues of ~$60 MUSD. Vicinity Motors is trading at around 3X sales for 2021, compared to their competitor Greenpower Motor trading at 34 X sales for 2021.
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