PCJ - Vicinity Motor Corp. Secures US$100M+ Purchase Order for 1,000 VMC 1200 Electric Trucks
PCJ - Vicinity Motor Corp. Secures US$100M+ Purchase Order for 1,000 VMC 1200 Electric Trucks
Posted on January 25, 2024
"We are incredibly pleased to announce this transformational
milestone in Vicinity's evolution as a leading commercial EV
manufacturer," said William Trainer, Chief Executive Officer of
Vicinity Motor Corp. "Today's PO validates the years of
innovation and development we have invested in expanding our
capabilities beyond transit buses and into the commercial truck
market. We have increased our credit facilities to accommodate
this order and I am confident in our ability to fulfill this PO on-
schedule in 2023.
"We started manufacturing this vehicle in Canada and expect to
shift to our new facility in Ferndale, Washington, which can
accommodate both buses and trucks, by year-end. Given the
simplified assembly of the VMC 1200 as compared to a transit
bus, Ferndale truck capacity could reach 10,000 vehicles per
year. Due to the fact we are not facing significant pressures in
the VMC 1200 supply chain specifically, the VMC 1200 will
prove to be a significant contributor to our 2023 revenue growth
and profitability - enabling our goal of creating sustainable, long-
term value creation for our shareholders," concluded Trainer.
Ray Van Empel of Pioneer Auto Group added: "We continue to
see intense customer demand for class 3 commercial EVs, a
segment that was largely unfilled prior to the arrival of the VMC
1200. This purchase order is a clear sign of our confidence not
only in our sales capabilities at Pioneer Auto Group, but in the
superiority of Vicinity's product. Given the wide array of federal
and province level incentives for the adoption of electric vehicles,
the VMC 1200 is truly a no brainer to buyers from a
financial perspective. I look forward to taking delivery of our first
VMC 1200 vehicles in the months ahead, assembled right here
in British Columbia."