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VEV new 52 lo
$VEV: Theres the corporate UPDATe.... now $5.90
$140Milly in Revs Expected in 2022 ??????????
https://vicinitymotorcorp.com/
GO $VEV
Vicinity Motor Corp. Provides Corporate Update and 2022 Financial Guidance
Company Expects FY 2022 Revenues of over $140 Million Driven by Strong North American Sales Momentum
VANCOUVER, BC / ACCESSWIRE/ October 12, 2021 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity Motor" or
the "Company"), a leading North American supplier of commercialelectric vehicles, today provided a corporate update and financial guidance for
2022.
Through the year ending December 31, 2022, Vicinity Motor expects to complete deliveries of over 95 Vicinity™ Classic buses, 75 Vicinity
Lightning™ EV buses and chassis, 200 VMC 1200 EV trucks, and 300 Vicinity Optimal EVs to drive year end revenues of over $140 million. FY
2022 Adjusted EBITDA is expected to be over $10 million with significant potential upside.
The Company expects to deliver over 130 Vicinity™ Classic buses during 2021. Consistent with other manufacturing and transportation
companies, Vicinity Motor continues to experience temporary delays from some suppliers and shipping companies which has delayed over 20
buses now expected to be delivered in 2022 rather than 2021.
"Ongoing sales activities across our vehicle lines have positioned us for a strong 2022," said William Trainer, Chief Executive Officer of Vicinity
Motor Corp. "Based on our existing backlog and large pipeline, we expect a strong cadence of sales growth into 2022 with additional near-term
customer orders. To support this significant demand, our Washington State assembly facility is expected to begin operations by mid-2022 -
beginning the ramp of U.S.-made vehicles.
"Our recent exclusive reseller agreement with Optimal EV, and collaboration agreement with the JB Poindexter business unit, EAVX, willalso begin
to drive revenue growth in the new year. We look forward to continuing to deliver record-breaking financial results and sales of both our classic
and new lines of breakthrough electric buses and trucks. I have never been more confident about the future and potential for long-term shareholder
value creation at Vicinity Motor Corp.,"concluded Mr. Trainer.
About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a leading North American supplier of electric vehicles for both public and
commercialenterprise use. The Company leverages a continent-wide dealer network and close relationships with world-class manufacturing
partners to supply its market-leading flagship electric, CNG and clean-diesel Vicinity™ buses, the VMC 1200 electric truck and a Vicinity OptimalEV shuttle bus. In addition, the Company sells its proprietary electric chassis to J.B. Poindexter subsidiary EAVX, the Company's strategic partner,
for upfitting into next-generation delivery vehicles. For more information, please visit www.vicinitymotorcorp.com.
Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com
Investor Relations Contact:
Lucas Zimmerman or Mark Schwalenberg, CFA
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us
$BUSXF
3 trade channels have developed based on yesterdays action. With this being in the EV sector now and growing public awareness, I have a hard time believing that we will follow in the horizontal channel for much longer.
Only 3 factors that I have found could potentially explain yesterdays horizontal trading.
1. PR firm is paid in shares
2. Execs are paid in shares
3. Profit taking from being up 90% since the new channel began.
For those that bought shares yesterday in the first hour of trading, such as myself, I am still seeing a bullish pattern based on yesterdays action with plenty of upside potential near future to get us back into the previous trading zones. High probability of a gap up near term putting us into the +3$ range
GWTNF bullish 1.134
Grande West is a Canadian manufacturer which designs, engineers and builds Vicinity buses. With little competition in the “mid-size” bus range, Grande West has set itself apart from others with the Vicinity bus – a heavy duty mid-size, true community transit bus now in operation in many municipalities across Canada.
The Vicinity was born from a need expressed by transit systems looking for a durable, reliable, customer oriented mid-size vehicle at a reasonable price point. Grande West responded by designing a vehicle with affordability, accessibility and global responsibility in mind. The Vicinity costs significantly less than a 40' bus and is considerably more durable than cut-away buses which are based on a truck chassis.
In a large and unsaturated market segment, Grande West is poised to capture sales growth from both the replacement of cut-away buses and the need for transit fleet to find the appropriate balance of vehicle sizes across Canada and the United States.
http://www.grandewest.com/
normal chart
log chart
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