Benzinga | Jul 14, 2021 01:23PM EDT

Vicinity Motor Receives $1M Order For Medium-Duty Electric Truck

* Electric, CNG and clean diesel vehicles supplier Vicinity Motor Corp (NASDAQ:VEV) has received an initial order from a private operator in British Columbia for 10 VMC 1200 Class 3 Trucks valued over $1.0 million.

* This order is scheduled for delivery in Q1 2022.

* VMC 1200 is a medium-duty electric truck powered by a 150 kWh Li-Ion battery pack an electrical powertrain that provides up to 150 kW of power and 800 lb-ft of torque.

* It has a 6,000-pound load capacity and an expected range of up to 150 miles on a single charge.

* "We expect to see additional orders as we continue to introduce the VMC 1200 across our dealer network to potential customers in a market that sees over 400,000 vehicles sold per year," said CEO William Trainer.

* Price action: VEV shares are trading lower by 3.53% at $6.27 on the last check Wednesday.