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Vicinity Motor Corp. (OTCQX:BUSXF) announced that CEO William Trainer will present at the LD Micro Invitational XI on June 10, 2021, at 1:30 p.m. EDT. The virtual event will highlight Vicinity's leadership in providing electric and clean fuel buses, including their flagship Vicinity™ line. The Company, based in Vancouver and known for its innovative Vicinity Lightning™ EV bus, aims to revolutionize public transit. Interested stakeholders can access the presentation via a live webcast.
Vicinity Motor Corp. (OTCQX:BUSXF) reported a remarkable 588% revenue growth to $27.3 million in Q1 2021, compared to $4.0 million in the previous year. The company delivered 67 buses, up from just 6 buses in Q1 2020. Notable achievements include the signing of a U.S. distribution agreement with ABC Companies and receiving orders for 10 Vicinity Lightning™ EV buses. The net income surged to $2.0 million or $0.07 per share, alongside an increase in adjusted EBITDA to $2.6 million. Management anticipates robust growth for the remainder of 2021.
Vicinity Motor Corp. (OTCQX: BUSXF) announced its participation in the Q2 Virtual Investor Summit on May 17-18, 2021. CEO William Trainer will present on May 18 at 4:15 PM Eastern and engage in one-on-one meetings with institutional investors. Vicinity is known for its supply of electric and clean diesel buses across the U.S. and Canada, showcasing their flagship Vicinity™ buses with a strong market presence. The company’s Vicinity Lightning™ EV bus aims to transform sustainable public transit through a partnership with BMW for components.
Vicinity Motor Corp. (OTCQX:BUSXF) will release its Q1 2021 financial results on May 17, 2021, after market close. A conference call will follow at 4:30 p.m. Eastern time, where management will discuss the results and provide updates. Interested participants can call 1-877-300-8521 in the U.S./Canada or 1-412-317-6026 internationally. Playback will be available until June 17, 2021. Vicinity is a leader in supplying electric and clean buses in North America, including its innovative Vicinity Lightning™ EV bus, produced in compliance with the Buy America Act.
Vicinity Motor Corp. (OTCQX:BUSXF) announced a new purchase order from the County of Simcoe, Ontario, for four Vicinity™ buses valued at over $1.6 million. This order includes three 30-foot buses and one 35-foot bus, with delivery expected in the first half of 2022. CEO William Trainer emphasized the company’s position in the Canadian market and its commitment to zero-emission transit solutions. Vicinity also highlighted plans for further expansion into the U.S. market, supported by existing distribution partners.
Vicinity Motor Corp. (OTCQX:BUSXF) has announced a supply agreement with Exro Technologies to integrate Exro's Coil Drive System into its electric bus product line. This technology promises lower energy consumption and improved performance, potentially enhancing Vicinity's competitive edge in the electric bus market. The company also granted 60,000 stock options and 166,000 Restricted Stock Units to directors and employees as part of its incentive plans. This agreement positions Vicinity for future advancements in sustainable transit solutions.
Vicinity Motor Corp. (OTCQX:BUSXF) announced a new purchase order worth over $6 million for 15 Vicinity™ buses from a Canadian public transportation provider. The buses, powered by compressed natural gas, are expected to be delivered in the first half of 2022. President William Trainer expressed satisfaction with the agreement, highlighting the company's commitment to expanding its clean tech vehicle offerings and driving sustainable public transportation. This deal reinforces Vicinity's strong market presence in Canada.
Vicinity Motor Corp. (OTCQX:BUSXF) will present at the Planet MicroCap Showcase on April 21, 2021, at 12:00 p.m. Eastern time. CEO William Trainer will host a virtual presentation and engage in one-on-one meetings. The event will take place from April 20-22, 2021. Vicinity is a leading supplier of electric, CNG, gas, and clean diesel buses, maintaining a strong market presence, particularly in Canada. The company aims to enhance sustainability in transit with its Vicinity Lightning™ EV bus, developed in partnership with BMW.
Vicinity Motor Corp. (OTCQX:BUSXF) has secured a contract with the State of Washington, allowing state transit agencies to purchase from its diverse bus portfolio. The company plans to produce vehicles at its Buy American Act compliant assembly facility in Washington, capable of making 1,000 units annually. CEO William Trainer expressed optimism over the contract, which aligns with their goal to expand in the U.S. market, delivering over 100 buses in the first half of 2021. Additionally, directors have opted to receive part of their remuneration in Deferred Share Units.
Vicinity Motors Corp. (OTCQX:BUSXF) reported its 2020 financial results, highlighting revenue of $26.1 million, up from $24.6 million in 2019. The company delivered 55 buses during the year, with expectations to exceed 100 deliveries in the first half of 2021, generating projected revenues of approximately $25 million. The recently launched Vicinity Lightning™ EV has received initial orders, positioning the company for growth. Despite a net loss of $4.4 million, improved gross profit margins in Q4 2020 are noted, reaching 49% compared to 13% in Q4 2019.
