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Vicinity Motor Corp. (V:VMC)

Business Focus: Heavy Buses & Coaches

Sector:  Industrials Industry:  Heavy Machinery & Vehicles
See Regulatory Filings on SEDAR
Company Contact
Address: 3168 262nd Street
Tel: 1-514-3410408
IR: See website
Key People
William R. Trainer
President, Chief Executive Officer, Director
Danial Buckle
Chief Financial Officer
Manuel Achadinha
Chief Operating Officer
John LaGourgue
Vice President - , Corporate Development, Director
Yue Zhong Wang
Vice President, Chief Engineer
Business Overview
Vicinity Motor Corp., formerly Grande West Transportation Group Inc., is a Canada-based bus manufacturer, which designs, engineers, manufactures and supplies electric, compressed natural gas (CNG), gas and clean diesel buses for both public and commercial enterprise use in the United States (U.S) and Canada. The Company focuses on selling the Vicinity branded transit buses. The Vicinity bus is a mid-size, community transit bus, which is in operation in the municipalities across Canada. Its Vicinity bus is available in 30 feet and 35 feet models. The Company's Vicinity bus is also available in 27.5 feet (8.5 meter), 30 feet (nine meters) and 35 feet (10.5 meter) variations. Its Vicinity Lightning electric vehicle (EV) bus, are enabled with BMW batteries and components.
Financial Overview
For the six months ended 30 June 2021, VicinityMotor Corp revenues increased from C$12.7M to C$46.4M. Netincome totaled C$1.6M vs. loss of C$2.5M. Revenues reflectUnited States segment increase from C$2.3M to C$34M, Canada(Country) segment increase of 20% to C$12.4M. BasicEarnings per Share excluding Extraordinary Items increasedfrom -C$0.10 to C$0.06.
Employees: 53 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $170.04M as of Jun 30, 2021
Annual revenue (TTM): $59.79M as of Jun 30, 2021
EBITDA (TTM): $1.03M as of Jun 30, 2021
Net annual income (TTM): -$0.23M as of Jun 30, 2021
Free cash flow (TTM): -$3.38M as of Jun 30, 2021
Net Debt Last Fiscal Year: N/A
Shares outstanding: 30,830,471 as of Aug 25, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization