![]() ![]() We are in the final steps prior to the onset of assembly operations at our new U.S. "Looking ahead, we are incredibly well positioned for a breakout year, expanding into the vast class 3 commercial EV truck market. Naturally, we expect the pace of production to increase exponentially as we scale operations and bring our facility in Ferndale online - helping us to chip away at our order backlog, which now exceeds US$150 million. "We are fortunate that the VMC 1200 supply chain is fairly insulated from the global disruptions that have impacted our transit bus business - since we kicked off deliveries in November 2022, we have already delivered 18 vehicles with 100 currently in production. assembly operations in the first half of 2023. This financing, paired with the installation of our power solution and receipt of a certificate of occupancy for our Ferndale manufacturing campus, puts us in a position to significantly increase our production capabilities with the onset of U.S. "To support the working capital needs of our VMC 1200 production ramp, we recently secured an expanded $30M credit facility with the Royal Bank of Canada and Export Development Canada, while maintaining existing financing to support bus production. manufacturing campus in Ferndale, Washington. "The fourth quarter and subsequent period continued our rapid pace of evolution, marked by significant sales momentum for our VMC 1200 and Vicinity Lightning ™ product lines, as well as continued progress towards starting assembly operations at our U.S. "2022 was a transformational year, expanding our capabilities beyond our strong legacy in transit buses and into the significant class 3 vehicle market with the introduction of the highly configurable VMC 1200 electric truck - for which we began initial customer deliveries in the fourth quarter," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp.
0 Comments
Leave a Reply. |