Poindexter business unit EAVX, the Company's strategic partner, for upfitting into next-generation delivery vehicles. In addition, the Company sells its proprietary electric chassis alongside J.B. The Company 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. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a North American supplier of electric vehicles for both public and commercial enterprise use. Additionally, SagePoint will receive cash compensation in the amount of $200,000 payable in quarterly installments. The Warrants, which are subject to a regulatory hold period, are priced at CAD$1.68, representing a 20% premium to the market price and will vest on the 12-month anniversary of issuance, and expire on the 36-month anniversary of issuance. In connection with SagePoint's engagement, and subject to the approval of the TSX Venture Exchange, SagePoint will be issued 1,000,000 common share purchase warrants ("Warrants") in the share capital of the Company. "We believe now is the opportune time to close the gap that exists between our end market acceptance and our capital markets positioning." As an extension of management, SagePoint will help augment our overarching business and capital markets strategies as we continue to expand our shareholder register with high-quality, long-term supportive investors," said William Trainer, Founder and CEO of Vicinity Motor Corp. Proterra’s best-in-class battery systems have been proven through more than 20 million service miles driven by Proterra transit vehicles across North America and selected by world-class commercial vehicle manufacturers to power school buses, work trucks, construction equipment, and more."The capital markets require expertise to navigate successfully and SagePoint brings this experience to Vicinity. Together with Vicinity, we are excited to build on this innovative spirit as we bring more clean transportation solutions to the communities we live in and serve,” said Gareth Joyce, CEO of Proterra.ĭesigned and manufactured in the United States, Proterra battery packs leverage industry-leading energy density and a customizable design to fit within a variety of vehicles. The question now is no longer if communities will transition to zero-emission, battery-electric transportation, but how fast we can get there. “Cities and towns across North America are driving towards a future with clean air and a healthier environment for our kids and future generations.
and Canadian markets, the Vicinity Lightning will comply with Buy America requirements for Federal Transit Administration-funded programs in the United States. Proterra batteries will be used in the production of Vicinity Lightning electric transit vehicles at Vicinity’s Ferndale, Washington manufacturing facility. “I look forward to working closely with the Proterra team to make our vehicles, equipped with their advanced battery systems, a staple in North American public transportation and industrial spaces.” “We are pleased to announce this new commercial relationship with Proterra, a true battery technology leader,” said William Trainer, Founder and CEO of Vicinity. The Proterra Powered Vicinity Lightning vehicle is expected to begin production in the third quarter of 2022. Proterra contracted to supply Vicinity with battery systems to power a minimum of 600 Vicinity commercial electric vehicles through 2024. The agreement is also expected to support Vicinity’s next-generation heavy-duty electric transit bus as well as the VMC 1200 Class 3 work truck and VMC 1500 Class 5 work truck with Proterra battery systems.
Under a new, multi-year supply agreement, Proterra battery systems will power the Vicinity Lightning 28-foot electric transit bus and Vicinity’s strip chassis platform to support several commercial vehicle configurations such as utility trucks, shuttle buses, and box trucks. (“Vicinity”), a North American supplier of commercial electric vehicles, and Proterra Inc (“Proterra”), a leading innovator in commercial vehicle electrification technology, today announced a new collaboration to power Vicinity’s electric transit buses and work trucks with Proterra’s industry-leading battery technology.
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