Company: Vicinity Motor Corp
\nListings :TSXV\u00a0,\u00a0NASDAQ
\nTicker: VMC.V & VEV
\nMarket cap at time of publication: $114 MCAD
\nStock price at time of publication: $ 2.89\u00a0 CAD
\nTarget price: 15-32 CAD by external analysts
\nBusiness: Leading supplier of electric, CNG, gas and clean-diesel buses for
\nboth public and commercial enterprise use in the U.S and Canada
\nComparable peer :\u00a0Lion Electric\u00a0Market cap 2 billion USD
\nWebsite:\u00a0https:\/\/vicinitymotorcorp.com\/<\/p>\n
ESGFIRE comment: Our top pick in the electric vehicles sector today (13\/4 2022) announces positive news in the form of a distribution agreement with one of Michigans largest auto dealers, Hoekstra transportation. The agreement will see Hoekstra to offer the sales of the Company’s Vicinity LightningTM, Vicinity Classic and VMC-Optimal vehicles. The agreement also includes an order of 8 vehicles. We continue to see an upside in Vicinity Motors shares as the company is now valued at less than 1X sales for 2022 and has\u00a0 target prices of 15-32 CAD by external analysts.<\/strong><\/p>\n Press release in full below: New Distributor Adds New Sales and Service Coverage in Key Midwestern States of Michigan, Indiana and Ohio<\/p>\n VANCOUVER, BC \u2013 April 13, 2022 – Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced that it has signed a new distribution agreement with Hoekstra Transportation, Inc. (\u201cHoekstra\u201d), Michigan’s largest school bus, commercial bus, cargo and custom van dealer, to offer the Company’s Vicinity LightningTM, Vicinity Classic and VMC-Optimal vehicles, including an initial order for eight (8) vehicles.<\/p>\n Hoekstra Transportation Inc. has been family-owned and operated since 1928, and is part of the Hoekstra\u200b family of companies. Hoekstra Transportation is a dealership for school buses, commercial shuttle buses, and mobility vehicles with locations in Grand Rapids and Troy, Michigan.<\/p>\n Under the terms of the agreement, Hoekstra will distribute Vicinity vehicles throughout Michigan, Indiana and Ohio. The Vicinity line adds to Hoekstra\u2019s portfolio of traditional and electric vehicles. The agreement includes a commitment to eight vehicles, including Vicinity Classic, Vicinity Lightning and VMC Optimal vehicles.<\/p>\n \u201cWe are excited that Hoekstra has chosen to represent Vicinity vehicles in Michigan, Indiana and Ohio \u2013 providing us with additional opportunities in this important transportation region,\u201d said William Trainer, Founder and CEO of Vicinity Motor Corp, \u201cAnd, with nearly 100 years\u2019 experience in sales and support of mass passenger transportation, Hoekstra is truly an expert in the field. We believe our vehicles will perfectly compliment Hoekstra\u2019s portfolio, especially with their increasing focus on electric vehicle solutions. We\u2019re eager to work with the entire Hoekstra team to showcase our full range of electric bus solutions to their large base of satisfied customers.\u201d<\/p>\n Mark Hoekstra, President and CEO of Hoekstra Transportation, added: \u201cOur family\u2019s automotive legacy has always focused on innovation and meeting the demands of our customers. VMC will help to expand our full range of vehicles with purpose-built, modern, cost-saving options including electrified buses and shuttles that complement our commitment to building a brighter, cleaner future for our customer\u2019s communities. Having seriously considered the options available in the market, VMC was a clear partner for Hoekstra\u2019s future.\u201d<\/p>\n The Company also announces that Manuel Achadinha is no longer employed as an officer of the Company as of the date of this press release. Management wishes him the best in his future endeavors. Legal Disclaimer Company: Vicinity Motor Corp Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V & VEV Market cap at time of publication: $114 MCAD Stock price at time of publication: $ 2.89\u00a0 CAD Target price: 15-32 CAD by external analysts Business: Leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the U.S and […]<\/p>\n","protected":false},"author":1,"featured_media":2462,"comment_status":"closed","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-2632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-reports-news-interviews","category-vicinity-motor-corp"],"yoast_head":"\n
\nVicinity Motor Corp. Secures U.S. Midwest Distribution Agreement with Hoekstra Transportation<\/p>\n
\nAbout Vicinity Motor Corp.
\nVicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) 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, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the Company’s strategic partner, for upfitting into next-generation delivery vehicles.\u00a0For more information, please visit\u00a0www.vicinitymotorcorp.com.<\/p>\n
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