{"id":1700,"date":"2021-11-01T16:43:24","date_gmt":"2021-11-01T15:43:24","guid":{"rendered":"https:\/\/esgfireat40.frontender.se\/uncategorized\/exclusive-pre-ipo-opportunity-for-esgfire-subscribers-in-carbon-capture-2\/"},"modified":"2022-01-25T09:44:57","modified_gmt":"2022-01-25T08:44:57","slug":"vicinity-motor-corp-receives-letter-of-intent-for-100-vmc-1200-ev-trucks-from-pioneer-auto-group-worth-approximately-cad-14-million","status":"publish","type":"post","link":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-receives-letter-of-intent-for-100-vmc-1200-ev-trucks-from-pioneer-auto-group-worth-approximately-cad-14-million\/","title":{"rendered":"Vicinity motor corp. receives letter of intent for 100 VMC1200 ev trucks from pioneer auto group worth approximately CAD $14 million."},"content":{"rendered":"<p>Company: Vicinity Motor Corp(formerly Grande West Transportation )<br \/>\nListings :<a href=\"https:\/\/ca.finance.yahoo.com\/quote\/BUS.V\/\">TSXV<\/a>\u00a0,<a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/vev\">\u00a0NASDAQ<\/a><br \/>\nTicker: VMC.V &amp; VEV<br \/>\nMarket cap at time of publication: $181 MCAD<br \/>\nStock price at time of publication: $5.20 CAD<br \/>\nBusiness: Leading supplier of electric, CNG, gas and clean-diesel buses for<br \/>\nboth public and commercial enterprise use in the U.S and Canada<br \/>\nComparable peer :\u00a0<a href=\"https:\/\/greenpowermotor.com\/\">\u00a0<\/a>Lion Electric Market cap $2500 MCAD<br \/>\nWebsite:\u00a0<a href=\"https:\/\/vicinitymotorcorp.com\/\">https:\/\/vicinitymotorcorp.com\/<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>ESGFIRE comments: We are pleased to see that Vicinity Motors already has received massive interest and a letter of intent worth potentially 14 MCAD for their new Class 3 trucks. This model will surely give competing producers such as Bollinger and Electric Last Mile Solutions a run for the market share of Class 3 vehicles.<\/strong><\/p>\n<p><strong>VANCOUVER, BC \u2013 November 1, 2021 \u2013\u00a0<\/strong>Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) (\u201cVicinity\u201d or the \u201cCompany\u201d), a leading North American supplier of commercial electric vehicles, today announced that it has received a letter of intent (\u201cLOI\u201d) from Pioneer Auto Group (\u201cPioneer\u201d), a leading retail automotive dealer in British Columbia, for 100 VMC 1200 Class 3 Electric Trucks worth approximately CAD $14 million.<\/p>\n<p>Pioneer is a well-respected Canadian dealership group with 17 locations located chiefly throughout British Columbia, Canada. The company has retails over 6,000 vehicles per year. Carries over 1,500 vehicles in its network including Mitsubishi, Honda, Chrysler, Dodge, Jeep and RAM models. The 100 VMC 1200 Class 3 Trucks specified in the LOI are expected to be delivered in 2022, subject to the execution of a dealer agreement, with first orders starting in Q1. The dollar value of the vehicle purchase is approximately CAD $14 million.<\/p>\n<p>\u201cPioneer is a well-known and highly rated auto dealer with 17 locations across British Columbia, making them an excellent strategic partner to introduce our new Vicinity 1200 medium-duty electric truck throughout the province,\u201d said William Trainer, Founder and CEO of Vicinity Motor Corp. \u201cWith a specialty focus on trucks and SUVs, Pioneer will be able to offer an EV alternative for customers interested in a commercial vehicle design for urban environments with a 6,000-pound load capacity, 150-mile estimated range and a popular cab-over design \u2013 all at an attractive price.\u201d<\/p>\n<p>\u201cWe are seeing strong indicative demand from our continent-wide dealer network and expect to see continued momentum in the months ahead. I look forward to providing further updates on this front to our valued shareholders as appropriate,\u201d concluded Trainer.<\/p>\n<p>Ray Van Empel, President and CEO of Pioneer Auto Group, added \u201cThis is a major milestone for our vehicle product line to offer the VMC 1200 popular cab over chassis design with an EV powertrain. VMC is a well-known name in the municipal transit space, and it\u2019s exciting to see their crossover to industrial trucks. We look forward to selling these new VMC 1200 throughout our dealerships.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Legal Disclaimer<\/strong><\/p>\n<p><strong>We own shares of these companies personally.<\/strong><\/p>\n<p><strong>Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for Educational purposes only and are not to be interpreted as tips , financial advice or recommendations of any kind to either buy or sell any stocks.<\/strong><\/p>\n<p>Companies may or may not be paying us for content posted on this blog<a href=\"https:\/\/esgfireat40.com\/wp-admin\/post.php?post=1609&amp;action=edit\">.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company: Vicinity Motor Corp(formerly Grande West Transportation ) Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V &amp; VEV Market cap at time of publication: $181 MCAD Stock price at time of publication: $5.20 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 :\u00a0\u00a0Lion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[148,128,9],"tags":[],"class_list":["post-1700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-reports-news-interviews","category-vicinity-motor-corp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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