- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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