{"id":2531,"date":"2022-03-14T13:40:24","date_gmt":"2022-03-14T12:40:24","guid":{"rendered":"http:\/\/esgfire.com\/uncategorized\/vicinity-motor-corp-to-report-fourth-quarter-2021-financial-results-on-wednesday-march-30-at-830-a-m-eastern-time-2\/"},"modified":"2023-08-09T14:40:20","modified_gmt":"2023-08-09T13:40:20","slug":"vmc-extends-partnership-with-abc-and-gains-more-orders","status":"publish","type":"post","link":"https:\/\/esgfire.com\/sv\/all-posts\/vmc-extends-partnership-with-abc-and-gains-more-orders\/","title":{"rendered":"VMC extends partnership with ABC and gains NEW orders!"},"content":{"rendered":"

Company: Vicinity Motor Corp
\nListings :TSXV<\/a>\u00a0,\u00a0NASDAQ<\/a>
\nTicker: VMC.V & VEV
\nMarket cap at time of publication: $143 MCAD
\nStock price at time of publication: $4.05 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<\/a>\u00a0Market cap 2 billion USD
\nWebsite:\u00a0https:\/\/vicinitymotorcorp.com\/<\/a><\/p>\n

ESGFIRE comment: Todays extended partnership includes order for 18 VMC Optimal S1 shuttle buses and 3 Vicinity Classic. The main key point of this extended partnership is that ABC will now actively market the new VMC Optimal shuttle bus.\u00a0 It’s no secret that w<\/strong>e see a big upside in Vicinity Motors shares as the company despite the recent flow of great news is valued at about 1X sales for 2022 and with target prices of 15-32 CAD by external analysts! The company now has a sales backlog in excess of $100 million CAD!\u00a0<\/strong><\/p>\n

Press release in full below:<\/strong><\/p>\n

VANCOUVER, BC \u2013 March 15, 2022 – <\/strong>Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced the expansion of its strategic U.S. distribution agreement with ABC Companies (“ABC”), a leading provider of motorcoach and transit equipment in North America.<\/p>\n

The ABC distributorship supports Vicinity’s focus on U.S. expansion to market the Vicinity\u2122 heavy duty mid-size bus, the Vicinity Lightning\u2122 EV and the VMC Optimal EV S1 low floor shuttle bus to new and existing customers.<\/p>\n

Under the expanded agreement, ABC will distribute Vicinity\u2019s product portfolio to 18 states covering key population centers across the country important to VMC\u2019s growth markets. The Vicinity line fills in key transit and private shuttle markets within the ABC portfolio of new vehicles for these locations, enhancing the offering to current customers while expanding to other sectors.<\/p>\n

In conjunction with the new agreement, ABC has contracted to order 18 VMC Optimal S1 shuttle buses and 3 Vicinity\u2122 Classic buses \u2013 in addition to the previously announced order for 10 Vicinity Lightning\u2122 EV buses slated for delivery in 2022.<\/p>\n

Roman Cornell, President and CCO of ABC Companies stated, \u201cOur expanded partnership with VMC is important as ABC continues to be a market leader in adoption and deployment of electric vehicles. Vicinity\u2019s innovative and environmentally friendly vehicle solutions support our focus on delivering excellence and performance.\u201d<\/p>\n

\u201cOur partnership with ABC continues to evolve as we expand our already robust North American footprint and broad product portfolio,\u201d said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. \u201cABC\u2019s proven track record of customer sales, service and support in the U.S. has enabled us to rapidly increase interest for both our traditional and EV product lines with key transit agencies and private companies alike.<\/p>\n

\u201cThis new agreement will allow them to now market the VMC Optimal EV S1, a fully-electric low floor chassis built on the E450 frame that enables zero-emission operation for an extensive range of market segments including commercial trucks and buses, ambulances, recreational vehicles and fleet trucks. We look forward to continuing our sales momentum with ABC in the coming months as we strive to generate sustainable value for our shareholders,\u201d concluded Trainer.<\/p>\n

About Vicinity Motor Corp.<\/strong><\/p>\n

Vicinity 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<\/a>.<\/p>\n

Legal Disclaimer<\/strong><\/p>\n

We own shares of this company personally.<\/strong><\/p>\n

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

Companies may or may not be paying us for content posted on this website.<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

Company: Vicinity Motor Corp Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V & VEV Market cap at time of publication: $143 MCAD Stock price at time of publication: $4.05 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 Canada […]<\/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-2531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-reports-news-interviews","category-vicinity-motor-corp"],"yoast_head":"\nVMC extends partnership with ABC and gains NEW orders! 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