Vicinity Motor Corp. (TSX-V:VMC) said it has secured a new purchase order for Vicinity Classic buses from global mobility leader Transdev Canada Inc.
The company said Transdev has placed an order for forty-two 32-foot clean-diesel Vicinity Classic buses, with delivery scheduled for 2024. The buses will be deployed to serve the greater Montreal area in Quebec.
In a statement, Transdev Canada's CEO, Arthur Nicolet, expressed satisfaction with the collaboration between the two companies, commenting: "Vicinity and Transdev Canada have developed a strong and fruitful collaboration as we have grown our business in Canada over the last decade. This latest order comes on the tail of a renewal and new additional contracts with EXO in Quebec. We look forward to deploying our new Vicinity buses into revenue service in 2024."
In Canada, Transdev operates in transit, paratransit, student transportation, and medical transportation sectors and is involved in significant projects such as the Hurontario light rail and the Ontario Line metro,
Vicinity Motor's CEO, William Trainer, highlighted the company's strong position in the transit bus market, saying: "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. 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."
Trainer also emphasized Vicinity's ability to meet the evolving needs of transit authorities, adding: "With many transit authorities now evaluating electric vehicles to supplement or replace their conventional diesel fleets in service today, Vicinity can serve as a comprehensive provider that fulfills immediate needs as well as long-term sustainability targets."
Vicinity Motor also revealed details of its recent share distribution. In the first quarter of 2023, the company distributed 925,667 shares under its ATM Offering, resulting in aggregate net proceeds of US$863,541.98.
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