Vicinity bus stock12/26/2023 "We delivered 34 vehicles in the second quarter - surmounting supply chain issues in some areas, while facing new obstacles in others. Taken together, our backlog grew to over USD$90 million, the majority of which are for electric vehicles. From new government incentives for EV adoption to new financing strategies such as Sustainability Partner's EVaaS program, the market is quickly optimizing for an electrified future. "This traction is a testament to the incredible interest and support we are receiving from enterprise customers and government agencies. "The second quarter of 2022 was marked by additional sales and distribution wins for our portfolio of electric vehicles, further validating our transition to electric vehicles," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. Presented at several leading automotive industry and investor conferences nationally including the Benzinga All-Access Show, the Diamond Equity Research Virtual Emerging Growth Invitational, the Advanced Clean Transportation Expo, the Planet MicroCap Showcase 2022 and the Stifel 2022 Transportation & Logistics Conference.Completed a one-year extension of the maturity date of its 8% unsecured debenture in the principal amount of CAD$10.3 million to October 4, 2023.Entered into a Master Goods and Service Agreement with Sustainability Partners LLC, an ESG focused company committed to eliminating deferred maintenance infrastructure by enabling sustainability, to utilize its Electric Vehicles as a Service™ (EVaaS) program to finance the conversion of traditional government fleets to Vicinity's electric vehicles.Central States Bus Sales, Inc., one of the largest school and commercial bus dealers in the U.S., including an initial commitment for 18 vehicles for the central U.S.Hoekstra Transportation, Michigan's largest school bus, commercial bus, cargo and custom van dealer, for the territory of Michigan, Indiana and Ohio, including an initial order for eight vehicles.Soderholm Sales & Leasing, a full-service bus dealer in Hawaii and the Pacific Islands region, including an initial commitment for four vehicles.Schetky Bus and Van Sales, a dealership and transportation solutions provider, to offer the Vicinity Lightning TM, Vicinity Classic and VMC-Optimal vehicles, including an initial commitment for 18 vehicles.Signed multiple new distribution agreements to offer the Company's product portfolio in the United States with:.VMC 1200 Class 3 electric trucks qualified for the recently approved Incentives for Medium and Heavy-duty Zero-Emission Vehicles (iMHZEV) Program administered by Transport Canada, a $550 million subsidy program which helps to make buying or leasing zero-emission vehicles more affordable.Received an order from the TOK Group, a transportation solutions provider, for six Vicinity Lightning™ electric buses valued at over CAD$3.0 million to support the shuttle bus service at Billy Bishop Toronto City Airport.Secured order backlog exceeding $90 million, the majority of which are for electric vehicles.Second Quarter 2022 and Subsequent Operational Highlights (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today reported its financial and operational results for the second quarter ended June 30, 2022.
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