Benzinga | Jun 14, 2021 01:12PM EDT

Vicinity Motor Bags $6 Million EV Bus Order

* Vicinity Motor Corp (OTC:BUSXF) announced an initial order for EV buses from Calgary Transit, the City of Calgary's transit authority.

* The order for 14 Vicinity Lightning EV buses is valued at over $6.0 million.

* The buses are due for delivery in 2022, with the option to purchase supplemental vehicles at a set price over five years.

* "This first order marks the beginning of a valuable partnership with Calgary Transit as they diversify their fleet and mitigate exposure to energy and carbon costs," said William Trainer, Founder and Chief Executive Officer.

* Vicinity Motor supplies electric, CNG, gas, and clean diesel vehicles and has recently received a $300,000 grant from Washington state to develop its EV bus facility.

* Price action: BUSXF shares are trading higher by 4.30% at $5.58 on last check Monday.