The agreement includes a commitment to 18 stock and demonstration vehicles. The Vicinity line fills in key transit, EV and shuttle opportunities within Central States’ portfolio of vehicles, further enhancing its product offering to current customers while expanding into new market sectors. Under the new agreement, Central States will distribute Vicinity vehicles throughout the entire central region. The VMC distribution agreement covers 7 states extending from Kentucky to Nebraska providing VMC a significant advantage in this important market. As one of the largest bus dealers in the country, Central States offers full-service facilities in Missouri, Illinois, Tennessee, Kentucky and Arkansas. Central States supplies thousands of school and commercial buses annually to customers throughout the region, providing a host of transportation solutions. Headquarter in Fenton, MO, Central States has been a regional leader in bus sales and service since 1975. (“Central States”), one of the largest school and commercial bus dealers in the U.S., to offer the Company’s full product portfolio, including an initial commitment for 18 demo and stock buses. The recent Q3 2021 financial results were the reason behind its loss in the after-hours on Friday.Vicinity Motor Corp., a North American supplier of commercial electric vehicles, today announced that it has signed a distribution agreement with Central States Bus Sales, Inc. (VEV) participated and showcased its vehicles at the APTA’s TRANSform Conference & EXPO which took place on November 8-10 in Orlando, Florida at the Orange County Convention Center. VEV participation at APTA’s TRANSform Conference & EXPO The Founder and CEO of Vicinity Motor Corp, William Trainer, said that Pioneer is a well-known and highly rated auto dealer with 17 locations across British Columbia, making them an excellent strategic partner to introduce our new Vicinity 1200 medium-duty electric truck throughout the province. (VEV) received a letter of intent from Pioneer Auto Group for 1 Class 3 Electric Trucks worth approximately CAD 14 million. On November 1, 2021, Vicinity Motor Corp. and Canada.īrent has over 20 years of experience in the commercial transportation field, with a specific focus on commercial buses and trucks and previous leadership roles at the distribution and manufacturing level, including sales, marketing, and operations. (VEV) appointed respected commercial transportation veteran Brent Phillips as Senior Director of Sales, North America, to lead the Company’s sales activities throughout the U.S. On November 2, 2021, Vicinity Motor Corp. Vicinity Motor expects revenue of $140 million and an adjusted EBITDA of at least $10 million for FY 2022. As of September 30, 2021, the company had cash, and cash equivalents totaling $5.0 million.Adjusted EBITDA was negative $3.5 million in Q3 2021 compared to an adjusted EBITDA loss of $0.7 million in Q3 2020. It suffered a net loss of $4.8 million, or $0.16 per share, compared to a net loss of $1.3 million, or $0.05 per share in Q3 2020.In Q3 2021, gross profit was negative $0.7 million compared to a gross profit of $0.6 million in the same year-ago quarter.VEV reported total revenue of $2.9 million in Q3 2021 compared to $8.9 million in Q3 2020.(VEV) announced its financial and operational results for the third quarter of 2021. VEV participation at APTA’s TRANSform Conference & EXPO.VEV 1 truck LOI from Pioneer Auto Group.
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