Vicinity Motor receives C$6M initial order from Calgary Transit for Vicinity Lightning EV buses

Vicinity Motor Corp (CVE:VMC) (OTCQX:BUSXF) (FRA:6LG), formerly Grande West Transportation Group Inc, announced it has received an initial order from Calgary Transit, the city of Calgary's transit authority, for 14 Vicinity Lightning electric vehicle (EV) buses valued at more than C$6.0 million. The initial 14 EV bus order is for delivery in 2022, with Calgary Transit having the option to purchase supplemental vehicles at a set price over a five-year period. “This first order marks the beginning of a valuable partnership with Calgary Transit as they diversify their fleet and mitigate exposure to energy and carbon costs,” Vicinity Motor CEO William Trainer said in a statement. READ: Vicinity Motor sees its 1Q revenue soar 588% to C$27.3M as bus deliveries ramp up “As cities around the world seek to meet climate goals, the demand for sustainable, zero emission transit options like our breakthrough Vicinity Lightning EV will continue to grow,” Trainer added. “We look forward to introducing our electric vehicles to the people of Calgary in the short-term and continuing to build value for our shareholders with the continued momentum in our next-generation Vicinity Lightning EV line.” Vicinity Motor noted that Emissions Reduction Alberta has committed $7 million to the City of Calgary's overall battery electric bus pilot project. Calgary Transit presently operates a fleet of 1,048 high-capacity, heavy, medium and light duty buses, providing 51.1 million passenger trips in 2020. Vicinity Motor is currently developing an assembly facility in Washington State that will be capable of producing 1,000 electric, CNG, gas, and clean-diesel units annually across all sizes and powertrains.  The company has three bus models - heavy-duty (diesel and compressed natural gas), medium-duty (electric vehicle EV), and light-duty (gasoline, diesel, and CNG). A fourth heavy-duty EV bus is currently under development. Contact Sean at sean@proactiveinvestors.com