We are proud to provide 11 million passenger trips on average every day thanks to efficient, easy to use and environmentally friendly transportation services that connect people and communities. The Company paid commissions totaling US$30,361.58 in connection with the sale of the shares.Īs an operator and global integrator of mobility, Transdev - the mobility company - empowers freedom to move every day thanks to safe, reliable and innovative solutions that serve the common good.
We believe our ability to offer both legacy and next-generation electric vehicles in a variety of classes and configurations positions us to deliver quality products to our customers, as well as long-term value to our shareholders," concluded Trainer.Īs required by TSX-V Regulations and as previously disclosed in the Company's first quarter 2023 MD&A, during the quarter ended March 31, 2023, it distributed 925,667 shares under its ATM Offering at an average price of US$0.9374 per share, having aggregate gross proceeds of US866,903.56 and aggregate net proceeds of US$863,541.98. "With many transit authorities now evaluating electric vehicles to supplement or replace their conventional diesel fleets in service today, Vicinity can serve as comprehensive provider that fulfills immediate needs as well as long-term sustainability targets. We look forward to working closely with their team to get these vehicles into service, leveraging our robust access to working capital, helping Transdev to deliver value to the communities that they service. "Transdev in particular is one of the largest private operators and integrators of multiple modes of transportation in the world, operating in 19 countries across six continents. "Our strong legacy of North American market leadership in the mid-sized heavy-duty segment continues to provide a strong customer base for our transit bus business," added William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. We look forward to deploying our new Vicinity buses into revenue service in 2024." This latest order comes on the tail of a renewal and new additional contracts with EXO in Quebec.
The Vicinity buses will service the greater Montreal, Quebec area.Īrthur Nicolet, Chief Executive Officer of Transdev Canada, stated: "Vicinity and Transdev Canada have developed a strong and fruitful collaboration as we have grown our business in Canada over the last decade. The Company anticipates delivering these vehicles leveraging its existing working capital position, supplemented by its working capital lines of credit. has ordered forty-two of the Company's 32-foot Clean-Diesel Vicinity™ Classic buses for delivery in 2024. Per the terms of the supply agreement, Transdev Canada, Inc. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of a new purchase order from global mobility leader Transdev for forty-two (42) Vicinity™ Classic buses.
I look forward to providing our investors with continued updates on our progress in the months ahead as we strive to electrify both government and corporate fleets continent-wide, helping to create value for my fellow shareholders.VANCOUVER, BC / ACCESSWIRE / / Vicinity Motor Corp. As we bring Ferndale production online in the first quarter of 2023, we will be well positioned to capture market share and harvest our significant $150 million backlog as of Sept. “We believe that our Aldergrove facility can produce approximately 50 VMC 1,200 units a month as an interim solution to meet our delivery schedule. "While the electrical switch supply chain challenges have certainly pushed the expected spool-up of production at the new facility into 2023, we are encouraged by our team's solution to advance our timeline and the strong potential to bridge this production gap utilizing our Canadian manufacturing facility,” said Trainer.
Vicinity bus plus#
"As a reminder to our investors, the Ferndale facility is a significant asset to the company, representing an unencumbered asset valued at over $15 million, plus equipment and additional leasehold improvements - which was paid for from VMC's treasury and owned outright.
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