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Vicinity Motor Corp. - $VEV STOCK NEWS

Welcome to our dedicated page for Vicinity Motor news (Ticker: $VEV), a resource for investors and traders seeking the latest updates and insights on Vicinity Motor stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Vicinity Motor's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Vicinity Motor's position in the market.

Rhea-AI Summary

Vicinity Motor Corp., a North American supplier of commercial electric vehicles, will report its first quarter 2024 financial results on Tuesday, May 14, 2024. The management will host an investor conference call to discuss the results, provide a corporate update, and hold a Q&A session. Investors can participate in the call by dialing in or accessing the webcast.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.31%
Tags
conferences earnings
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Rhea-AI Summary

Vicinity Motor Corp. has secured a distribution agreement with RJames Vicinity Truck in British Columbia, Canada. The agreement will allow RJames Vicinity Truck to distribute Vicinity VMC 1200 vehicles in the regions of Kamloops and Kelowna. This partnership aims to expand RJames Management's commercial truck business into the last-mile class 3 electric truck segment, providing a new opportunity for both companies to tap into the growing market for commercial electric vehicles. The collaboration highlights Vicinity's commitment to partnering with reputable dealers and expanding its presence in the electric truck industry.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.97%
Tags
none
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Rhea-AI Summary
Vicinity Motor Corp. has been granted an additional 180-day extension by Nasdaq to regain compliance with the minimum bid price rule. The company must maintain a closing bid price of at least US$1.00 per share for 10 consecutive business days by October 21, 2024, to meet the requirement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.76%
Tags
none
Rhea-AI Summary
Brent Phillips has been appointed as President of Vicinity Motor Corp. to lead the next phase of growth, focusing on streamlining production and increasing vehicle sales. Phillips will work on onshoring production for the Lightning bus, expanding the VMC 1200 electric truck dealer network in Canada, and launching the VMC 1200 in the U.S. market. With over 30 years of experience in the commercial transportation field, Phillips aims to drive profitable revenue growth and optimize product availability for the company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.57%
Tags
none
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Rhea-AI Summary
Vicinity Motor Corp. secures a CAD$2 million loan from two arms' length parties, with a 12% interest rate and the ability to prepay without penalty. The Company also issues 800,000 bonus warrants as part of the agreement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.57%
Tags
none
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Rhea-AI Summary
Vicinity Motor Corp. reported $5.1M revenue from 11 Vicinity Classic Transit Buses in Q4 2023. The company secured new distribution agreements, expanded its dealer network, and partnered with ADASTEC for an automated Vicinity Lighting EV transit bus. Revenue increased to $19.1M for the full year 2023, with a gross profit of $2.1M. However, the net loss for Q4 2023 was $9.1M, with an adjusted EBITDA loss of $3.2M.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-23.92%
Tags
News
Rhea-AI Summary
Vicinity Motor Corp. (NASDAQ:VEV) grants 187,745 Deferred Share Units to Eligible Directors for the first quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.79%
Tags
none
-
Rhea-AI Summary
Vicinity Motor Corp. to Release Fourth Quarter and Full Year 2023 Financial Results on April 2, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.11%
Tags
-
Rhea-AI Summary
Vicinity Motor Corp. (NASDAQ:VEV) to Report Q4 and Full Year 2023 Financial Results on March 28, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.52%
Tags
conferences earnings
Rhea-AI Summary
Vicinity Motor Corp. receives a follow-on purchase order for twelve Vicinity Classic buses from Autobus La Québécoise, affirming its market leadership in the Canadian mid-sized heavy-duty segment. The order complements the previous eight-bus order and underscores Vicinity's commitment to providing cost-effective transportation solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.71%
Tags
none
Vicinity Motor Corp.

Nasdaq:VEV

VEV Rankings

VEV Stock Data

35.39M
41.02M
10.18%
0.27%
0.02%
Automobile and Other Motor Vehicle Merchant Wholesalers
Wholesale Trade
Link
United States of America
Aldergrove

About VEV

grande west transportation group is a canadian bus manufacturer which designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises. grande west's best-in-class vicinity bus is available in 27.5, 30 and 35 foot models powered by clean diesel or cng designed with affordability, accessibility and global responsibility in mind. it costs significantly less than a regular 40 foot transit bus, burns less fuel and emits less harmful emissions. grande west's vicinity is operating throughout most provinces in canada, and has entered the significantly larger us market as a buy america compliant manufacturer.