Vicinity Motor Expands US Distribution Partnership With ABC Companies

Vicinity Motor Corp VEV said it is expanding its strategic U.S. distribution agreement with ABC Companies (ABC), a provider of motorcoach and transit equipment in North America.
The ABC distributorship will enable Vicinity's focus on U.S. expansion to market the Vicinity heavy duty mid-size bus, the Vicinity Lightning EV, and the VMC Optimal EV S1 low floor shuttle bus.
Under the expanded agreement, ABC will distribute Vicinity's product portfolio to 18 states.
ABC has contracted to order 18 VMC Optimal S1 shuttle buses and 3 Vicinity Classic buses, in addition to the previously announced order for 10 Vicinity Lightning EV buses slated for delivery in 2022.
Price Action: VEV shares are trading lower by 0.64% at $3.12 on the last check Tuesday.