- Vicinity Motor Corp VEV has entered a supply agreement with Electrovaya Inc EFLVF to provide battery systems for its line of Vicinity Lightning EV buses and fully electric VMC 1200 Class 3 trucks. The financial terms of the deal were not disclosed.
- Electrovaya develops and manufactures Lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications.
- The agreement provides Vicinity with Lithium-ion battery systems that use the latest Electrovaya NMC ceramic lithium-ion battery technologies and support full integration in its vehicles.
- Price Action: VEV shares are trading lower by 3.30% at $5.57 on the last check Wednesday.
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