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Vicinity Motor Corp. (OTCQX: BUSXF) announced that certain directors will receive their remuneration for 2021 in Deferred Share Units (DSUs), totaling 2,997 DSUs for Q2. The company specializes in electric and clean diesel vehicles, with a prominent market share in Canada through its Vicinity™ bus line. Their Vicinity Lightning™ EV bus, powered by BMW components, aims to advance sustainable transit solutions. The press release also includes a cautionary note about forward-looking statements, emphasizing the inherent risks and uncertainties.
Vicinity Motor Corp. (OTCQX:BUSXF) announced its approval for listing on the Nasdaq Capital Market, effective July 7, 2021, under the symbol VEV. The move aims to enhance public profile, shareholder base, and liquidity. The company reported delivering 20% more vehicles in Q1 2021 compared to all of 2020, driven by strong market traction for its Vicinity Lightning EV bus and VMC 1200 EV truck. The Nasdaq listing is expected to support continued growth in sustainable transit solutions.
Vicinity Motor Corp. (OTCQX: BUSXF) announced its Vicinity Lightning™ EV bus and VMC 1200 Class 3 truck are eligible for rebates up to $100,000 through British Columbia's CleanBC Go Electric Program to promote electric vehicle adoption. The program, funded by the Ministry of Energy, aims to accelerate zero-emission vehicle usage in the province. With discounts reaching 33% of the purchase price, these initiatives could enhance sales and shareholder value significantly.
Vicinity Motor Corp. (OTCQX:BUSXF) has successfully completed the exercise of 1,924,726 warrants, generating $7.5 million in proceeds during the first quarter of 2021. This capital influx eliminates all outstanding warrants, enhancing the company's financial stability. CEO William Trainer highlighted the significance of this achievement as a reflection of shareholder confidence and expressed optimism about future operational prospects, including a planned uplisting to Nasdaq. The company is recognized for its innovative electric and clean diesel vehicles.
Vicinity Motor Corp. (OTCQX: BUSXF) has unveiled the VMC 1200, a fully electric Class 3 medium-duty truck, with deliveries expected to start in Q1 2022. The truck features a 150 kWh battery, provides up to 150 miles on a single charge, and has a load capacity of 6,000 pounds. Production plans include up to 1,000 units in 2022, amid strong dealership interest. This launch follows the company's strategy to bolster its electric vehicle offerings, complementing its established bus line and aiming for sustainable growth in the market.
Vicinity Motor Corp. (OTCQX:BUSXF) has received a purchase order for three Vicinity Classic buses from Le Groupe Transbus, increasing their fleet to 12 units. The 30-foot Clean-Diesel buses will serve Canadian public transit agency EXO in Varennes, Quebec. CEO William Trainer highlights the company's strong market position and the transition towards electric buses, noting the Vicinity Lightning model's leadership in EV transit. Vicinity remains committed to growing its partnerships with transit authorities across North America.
Vicinity Motor Corp. has partnered with Danfoss Editron to incorporate advanced drivetrain systems into its Vicinity Lightning™ electric buses. The collaboration includes a purchase order for 300 drivetrain systems, ensuring supply for the upcoming year. Danfoss's drivetrain is lighter and more efficient than competitors, enhancing vehicle performance. This partnership supports Vicinity's commitment to producing sustainable transit solutions, leveraging Danfoss's technology that has been successfully deployed across various global markets.
Vicinity Motor Corp. has secured an initial order from Calgary Transit for 14 Vicinity Lightning™ EV buses valued at over $6 million, aimed for delivery in 2022. This partnership supports Calgary's goal of reducing emissions, bolstered by Emissions Reduction Alberta's commitment of $7 million for the city's battery electric bus initiative. The order signifies the company's growth in sustainable transit solutions and aims to enhance shareholder value through increased demand for electric public transportation.
Vicinity Motor Corp. (OTCQX:BUSXF) has received a $300,000 grant from the Washington State Department of Commerce to support the establishment of its Vicinity Lightning™ EV bus assembly facility in Whatcom County, Washington. This grant is part of a larger initiative aimed at fostering innovation and sustainability. CEO William Trainer highlighted the importance of this funding in enhancing production capacity for low-emission vehicles and emphasized the company's commitment to creating living-wage jobs while partnering with local agencies.
Vicinity Motor Corp. (OTCQX:BUSXF) has announced its entry into the Medium Duty Truck Market with a fully electric Class 3 vehicle, featuring a 12,000 lb GVWR. This new truck will support urban delivery applications and aims to reduce environmental impact compared to traditional diesel vehicles. Production for the new line is expected to exceed 5,000 units annually, with initial commercial deliveries slated for Q4 2021. The company's innovative design will utilize standard charging solutions, minimizing infrastructure costs for customers.
