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.
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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.
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End-of-Day
-5.93%
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Vicinity Motor Corp. (VEV) has signed a new distribution agreement with automotive industry executive Kelly Jennings to launch Peninsula VMC Truck Centre, a new VMC specific dealership in the southern Toronto, Canada region. The agreement will distribute Vicinity VMC 1200 trucks throughout the cities of Hamilton, Burlington, Brantford, and Niagara. This move aims to support fleet operators in their electrification journey, offering purpose-built, custom-upfit all-electric VMC 1200 to a new generation of customers, delivering immediate cost savings while reducing carbon emissions for commercial fleet operators.
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End-of-Day
-3.26%
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Vicinity Motor Corp. (VEV) expands into the commercial EV market by establishing Vicinity Trucks West Toronto through a new distribution agreement with Shift EV Trucks. The dealership will distribute Vicinity VMC 1200 trucks throughout Western Toronto, targeting the commercial and fleet EV space. The agreement aims to capitalize on the growing market opportunity for commercial EVs, driven by declining total cost of ownership, regulatory developments, infrastructure investments, and government incentives.
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End-of-Day
5.99%
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Vicinity Motor Corp. (VEV) Announces Granting of Deferred Share Units to Eligible Directors
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Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) announced a new distribution agreement with Jack Carter Commercial Vehicles to launch Jack Carter VMC Trucks, a new VMC specific dealership, by the owners of Jack Carter Chevrolet Buick GMC Corvette Dealer for the Alberta South territory. The agreement includes an initial order for 19 VMC 1200 vehicles to be distributed throughout Southern Alberta. The partnership aims to address the significant commercial EV opportunity in the region, with Vicinity Motor Corp. expressing excitement about adding the Jack Carter brand to their dealership list.
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End-of-Day
3.66%
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Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) announced a new purchase order for eight Vicinity™ Classic buses from Autobus La Québécoise for the City of Joliette, Quebec. The order supports the company's strategy to transition to EV buses and trucks, showcasing its leadership in the passenger transportation industry.
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Rhea-AI Sentiment
End-of-Day
1.19%
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Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) has been approved by the Quebec Ministry of Transport and Sustainable Mobility in Canada for the VMC 1200 to be included in its Écocamionnage Program, offering a CAD$85,000 rebate to buyers. The program aims to reduce greenhouse gas emissions in the commercial freight and service vehicle sectors through measures to improve energy efficiency or through the use of alternative energy. This incentive represents an exciting opportunity to attract attention and lower costs for new buyers who are considering making the transition to EVs.
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Rhea-AI Sentiment
End-of-Day
1.2%
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Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) Announces Grant of 402,000 Incentive Stock Options
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End-of-Day
0.33%
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Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) reported its Q3 2023 financial and operational results, highlighting a $150 million order backlog, $6.5 million revenue, and expansion of the VMC 1200 distribution network across North America. The company also partnered with ADASTEC to create an SAE Level-4 automated Vicinity Lighting EV transit bus and secured new orders for Vicinity Classic Clean Diesel Buses. The third quarter saw the opening of a new U.S. manufacturing campus in Ferndale, Washington, and a significant improvement in gross profit.
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End-of-Day
3.87%
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Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) announced its Q3 2023 financial results, generating $2,032,669 and $4,800,730 in revenue for the three and nine months ended September 30, 2023, respectively. The company also achieved certification of its Cell Driver™ battery modules to the UL 1973 standard and was granted a patent for its Cell Driver™ technology. Exro saw an increase in operating costs for the nine months ended September 30, 2023, driven by higher payroll and research and development costs compared to the same period in 2022.
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Rhea-AI Sentiment
End-of-Day
-10.32%
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Vicinity Motor Corp.
Nasdaq:VEV
VEV Rankings
VEV Stock Data
34.21M
41.02M
10.18%
0.27%
0.02%
Automobile and Other Motor Vehicle Merchant Wholesalers
Wholesale Trade
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.