Vicinity Motor Corp (TSX-V:VMC) said it has signed a sales and marketing agreement with Paradigm Automotive Corp, which includes an initial US$12 million order for 100 VMC 1200 Class 3 electric trucks.
Paradigm, an automotive sales, leasing and upfitting company based in Ontario, Canada, has also been appointed to act as Vicinity's exclusive dealer in the Hamilton and Niagara regions of Ontario.
The VMC 1200 deliveries are expected to begin in the second quarter of 2022, Vicinity said. The company also revealed continuing strong sales momentum and said its sales backlog is in excess of C$100 million.
"This announcement further solidifies our footprint within the greater Ontario area and further validates our VMC 1200, which has had an incredibly strong market reception to-date," William Trainer, founder and CEO of Vicinity Motor said in a statement.
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"Paradigm represents a fantastic partner in their respective markets in Hamilton and Niagara and we look forward to working closely with them in the months ahead to provide their wide base of customers with an exciting all-electric alternative to their current Class 3 fleets," Trainer added
Rob Burda, general manager at Paradigm commented: "There are few class 3 EV trucks readily available on the market today and given the ample range, straightforward operation and attractive price of the VMC 1200 - paired with Vicinity's longstanding reputation for quality - makes it a solid contender for everyday use on jobsites. The VMC 1200 EV truck stands in a class of its own and I look forward to introducing this exciting new EV to our established base of customers."
Vicinity is a North American supplier of electric vehicles for both public and commercial enterprise use. It leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus.
Contact the author at jon.hopkins@proactiveinvestors.com