Vicinity Motor Corp. Announces Distribution Agreement with TOK Group for VMC 1200 Class 3 Electric Truck |
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Leading Canadian Transportation Solutions Provider to Act as Dealer for VMC in York Region of the Greater Toronto Area VANCOUVER, BC / ACCESSWIRE / August 16, 2022 / Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has signed a distribution agreement with the TOK Group ("TOK"), a Canadian transportation solutions provider, to offer the Company's VMC 1200 Class 3 electric trucks, including an initial commitment for 10 vehicles. The TOK Group of Companies has been providing comprehensive, quality services to public and private organizations in the transit, urban mobility and charter tour industries for nearly 50 years. Serving the bus, truck and industrial equipment industries across Canada and internationally, the TOK Group provides professional services, smart technologies and turnkey transit operation and maintenance solutions that are integrated, scalable, flexible and cost-effective. Under the new agreement, TOK will distribute Vicinity's VMC 1200 Class 3 Electric Truck's throughout the York Region of the Greater Toronto Area. The VMC 1200 adds to TOK's portfolio expertise in electric vehicle sales. The agreement includes an initial commitment for 10 VMC 1200 vehicles. "We continue to partner with larger, sustainability-minded North American dealers looking toward the future of electrification for their client's commercial fleets," said William Trainer, Founder and CEO of Vicinity Motor Corp. "TOK has 50 years of experience providing comprehensive, quality services to public and private organizations in the urban mobility, transit and charter tour industries. "After TOK's recent order for six Vicinity Lightning™ buses for use at the Billy Bishop Toronto Airport, it was a natural evolution to becoming an exclusive distributor for the VMC 1200, our fully electric class 3 commercial vehicle, which travels up to 150 miles on a single charge. We look forward to helping the TOK sales team share the benefits of the VMC 1200 along with our full line of heavy-duty, light-duty and special purpose electric vehicles with their robust customer base," concluded Trainer. Raffi Tokmakjian, President at TOK Group, added: "TOK has continued to evolve with advances in innovation and we are increasingly focused on electric and alternative fuel systems to resolve fleet management issues and enhance performance. Vicinity's full range of EV solutions complements our goals and is an ideal partner, alongside whom we will share the benefits of electrification with our customers." About TOK About Vicinity Motor Corp. Company Contact:
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Canadian Investor Relations Contact: Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Vicinity Motor Corp. https://www.accesswire.com/711352/Vicinity-Motor-Corp-Announces-Distribution-Agreement-with-TOK-Group-for-VMC-1200-Class-3-Electric-Truck |
8/16/2022 8:31:00 AM |
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Vicinity Motor Corporation published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 12:43:03 UTC.