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Vicinity Motor Corp - VEV STOCK NEWS

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

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.

News
Vicinity Motor Corp. Receives Additional 180 Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Rule
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.
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Brent Phillips to Lead Next Phase of Growth at Vicinity Motor Corp.
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.
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Vicinity Motor Corp. Announces CAD$2 Million Loan
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.
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Vicinity Motor Corp. Reports Fourth Quarter and Full Year 2023 Financial Results
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%
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Vicinity Motor Corp. Issues DSUs
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%
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Vicinity Motor Corp. Reschedules Fourth Quarter and Full Year 2023 Financial Results Conference Call to Tuesday, April 2 at 4:30 p.m. Eastern Time
Rhea-AI Summary
Vicinity Motor Corp. to Release Fourth Quarter and Full Year 2023 Financial Results on April 2, 2024
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End-of-Day
4.11%
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earnings
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Vicinity Motor Corp. to Report Fourth Quarter and Full Year 2023 Financial Results on Thursday, March 28 at 4:30 p.m. Eastern Time
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%
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Vicinity Motor Corp. Secures Follow-On Order for 12 Vicinity(TM) Classic Buses from La Québécoise
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
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End-of-Day
-2.71%
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Vicinity Motor Corp. Secures VMC 1200 Distribution Agreement with VMC Laval in Laval, Canada
Rhea-AI Summary
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) announced a new distribution agreement with Groupe Taddeo Auto to open VMC Laval, a new VMC specific dealership, by the owners of successful Volvo and Polestar dealerships in the Montreal territory. The agreement will allow VMC Laval to distribute Vicinity VMC 1200 trucks throughout Montreal-Laval, leveraging Groupe Taddeo Auto's expertise in the EV market. The VMC 1200's recent inclusion in the Quebec Ministry of Transport and Sustainable Mobility's Écocamionnage Program provides an CAD$85,000 incentive for each purchase in Quebec. The expansion into the commercial EV market is a strategic move for Vicinity Motor Corp, with potential for growth and success in the region.
Rhea-AI Impact
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End-of-Day
-0.23%
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Vicinity Motor Corp. Issues Shareholder Letter and Provides Corporate Update
Rhea-AI Summary
Vicinity Motor Corp. issued a letter to shareholders highlighting their success in the electric vehicle (EV) market, expansion, and diversification in 2023. The company commenced operations at a new U.S. Manufacturing Campus in Ferndale, Washington, with an annual assembly capacity of up to 6,250 VMC 1200 all-electric trucks. They have also developed a North American dealer network for the VMC 1200 and entered the Quebec Market with a distribution agreement with Quebec-based Complexe EV. Vicinity Motor Corp. also announced a collaboration with ADASTEC to create an SAE Level-4 automated Vicinity Lighting EV, and showcased their next-generation EVs at Tier-1 industry conferences across North America. The company also emphasized their strong legacy of market leadership with the Vicinity Classic Transit Bus and expressed a positive outlook for 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.93%
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Stock VEV logo
Vicinity Motor Corp

Nasdaq:VEV

VEV Rankings

#4955 Ranked by Market Cap
#4185 Ranked by Stock Gains
N/A Ranked by Dividends

VEV Stock Data

28.69M
41.02M
10.18%
0.27%
0.02%
Automobile and Other Motor Vehicle Merchant Wholesalers
Wholesale Trade
Link
Canada
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.