VEV- 120Market cap at 3.50$- Receives USD $19.0 Million Order for Optimal Electric Class 4 Commercial Chassis : pennystocks

VANCOUVER, BC / ACCESSWIRE / January 5, 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 received an order from Olathe Fleet Solutions (“Olathe”), a commercial truck dealership and fleet management company in Kansas, for over 150 VMC Optimal E1 Electric Chassis valued in excess of USD $19.0 million.

Olathe, based in Olathe, Kansas is one of the nation’s largest dealers in the commercial fleet industry – up-fitting and delivering of over 20,000 trucks nationwide yearly. The VMC Optimal E1 orders are scheduled for delivery throughout 2022 for operation in school, commercial, shuttle, ambulance, last-mile and other key market segments.

“Olathe is well-respected and highly rated in the commercial fleet market. This order is the culmination of effort and development which began many months ago with the Olathe team and key end-user involvement,” said William Trainer, Founder and CEO of Vicinity “As an authorized Ford ship-thru up-fitter, Olathe will be able to offer best-in-class EV solutions for customers across the Class 4 commercial vehicle spectrum.

“We are seeing strong interest for the VMC Optimal EV vehicles as fleets seek to electrify and mitigate exposure to energy and carbon costs. We believe the market conditions are ideal for incredible vehicles such as ours – providing extensive range, highway speeds and significant gradeability at maximum load. Our VMC Optimal E1 also utilizes high-performance battery systems from Proterra®, which have industry-leading energy density, a flexible design to fit within a wide variety of vehicles, and rigorous pack level validation designed for safe and durable vehicle operation. Taken as a whole, we believe our vehicles are truly best-in-class,” concluded Trainer.

Marc McEver of Olathe added, “After careful evaluation of market options, Olathe decided to partner with VMC Optimal to offer solutions that will deliver safe and reliable results for our fleets. Olathe has worked carefully over the decades to build confidence with our clients, it’s critical that we partnered with the best solution provider.”

The chassis will be produced at the new VMC Optimal manufacturing plant in Elkhart, Indiana and offer up to 125 mile range with the battery pack completely protected inside the chassis rails. Units will begin to be delivered in the first quarter of 2022.-

r/pennystocks - VEV- 120Market cap at 3.50$- Receives USD $19.0 Million Order for Optimal Electric Class 4 Commercial Chassis

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Vicinity Motors, formerly Grande West Transportation Group, is a vehicle designer and manufacturer that specializes in mid-sized transit buses. Currently producing Clean diesel and Compressed Natural Gas (CNG) models, VMC is also on the verge of manufacturing EV buses and trucks in their brand new Washington’s facility.

Statewide contracts in the US


Recent developments

  • Uplisted from the OTCs to the Nasdaq on July 7 2021, from ticker $BUSXF to $VEV

  • On-going construction of a new facility for the EV lines in Ferndale, Washington State. It’s been designed with flexibility and expansion in mind to deliver up to 1000 vehicles a year. The facility is expected to begin operation in the first half of 2022. 

  • Announced multiples contracts in the US while maintaining their leader position in the light and medium-duty bus segment. 

More about the vicinity Lightning EV bus .

With our production ramp up, we now have 25 (now 29) Vicinity Lightning™ EV buses in the production phase and are gearing up for significant growth. We look forward to expanding our reach and sales in the U.S. through our partnership with ABC, driving forward a more sustainable public transit system.

More about the vicinity Class 3 EV truck. 

Powered by cutting edge Li-Ion battery technology that provides up to 150 kWh of power, the VMC 1200 cant ravel up to 150 miles on a single charge. Perfectly suited for ultra-quiet operation in urban environments.

Analyst coverage

Forward Guidance

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