Vicinity Motor Corp. Receives Over $15 Million in Orders for 38 Vicinity(TM) Classic Buses from Leading Quebec Transit Operators

VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LG) ("Vicinity Motor" or the "Company"), a leading supplier of electric, CNG, gas and clean diesel vehicles, today announced the receipt of over $15.5 million in new purchase orders from three Québec, Canada transit operators for a total of 38 Vicinity™ Classic buses.

Pursuant to the terms of the supply agreements, Robert Paquette Autobus et Fils Inc. ordered 18, Transcobec (1987) Inc. ordered 11, and Autobus Yves Seguin et Fils Inc. ordered 9 Vicinity™ Classic buses, which will all be in service with Canadian public transit agency EXO. The Vicinity™ will be serving the cities of Oka, St-Joseph-du-Lac, Pointe-Calumet, Sainte-Marthe-sur-le-Lac, Doux-Montagnes, Saint-Eustache, Boisbriand, Sainte-Thérèse, Blainville, Rosemère, Bois-de-Fillions, Saint-Jérôme, and Sainte-Anne-des-Plaines. These orders are for delivery in 2022 and join the current operating fleet of 79 Vicinity™ buses in the Province of Quebec.

"Our Canadian market leadership in the mid-sized heavy duty segment continues to drive robust revenue and growth," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. "Vicinity's strong position in Canada is a testament to our flagship status and large base of satisfied, long-term customers. We look forward to servicing countless travelers throughout Quebec with these exciting new bus orders."

"We are leveraging the strong sales of Vicinity^TM buses to position us for early leadership and growth for our electric vehicle offerings including the Vicinity Lightning^TM EV and VMC 1200 Class 3 Truck. Both of our EV product lines are showing accelerating momentum with firm orders of 29 Vicinity Lightning^TM EV buses currently in production, with many more that we believe will be ordered in the near-term. We believe our wide lineup of both traditional and electrified vehicles will allow us to further expand our market share throughout North America, addressing all opportunities and helping to create sustainable value for our shareholders over the long-term," concluded Trainer.

About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LG) is a leading supplier of electric, CNG and clean-diesel vehicles for both public and commercial enterprise use in the U.S and Canada. The Company's flagship line of Vicinity™ buses, which maintains a market segment leadership position in Canada, is produced by the Company's world-class manufacturing partners and will be produced at the soon to be completed Buy America Act compliant assembly facility in the State of Washington. Vicinity's innovative Vicinity Lightning™ EV bus, enabled through a strategic supply agreement with BMW for batteries and components, seeks to lead the global transition to more sustainable transit vehicles in the private and public markets. For more information, please visit www.vicinitymotorcorp.com.