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Awarded authorization from MBTA on behalf of the largest state transit association in the U.S., the California Association for Coordinated Transportation, for consortium members to select Vicinity buses in a statewide purchasing contract that gives State transit agencies authority to purchase "Buy America" compliant buses directly from the Company's diverse portfolio through its distribution partner ABC Companies.Received significant governmental support with statewide purchasing contracts, rebate eligibility and grant awards.Received $7.5 million in proceeds from accelerated warrant exercises, further fortifying the Company's balance sheet to $10.2 million in cash, with no remaining warrants outstanding.Commenced trading of the Company's common shares on the Nasdaq Capital Market under the symbol "VEV" to help elevate the Company's public profile, expand its shareholder base, improve liquidity and enhance shareholder value.Delivered 46 buses for the three months ended June 30, 2021, as compared to 23 buses for the three months ended June 30, 2020.Revenue grew 119% to $19.1 million in the three months ended June 30, 2021, as compared to $8.7 million for the three months ended June 30, 2020.Second Quarter 2021 and Subsequent Operational Highlights (TSXV:VMC)(NASDAQ:VEV)(FRA:6LG)("Vicinity Motor" or the "Company"), a leading supplier of electric, CNG, gas and clean diesel buses, today reported its financial and operational results for the second quarter of 2021.
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VANCOUVER, BC / ACCESSWIRE / Aug/ Vicinity Motor Corp.