VEV - Vicinity Motor expects revenue of $140M amid strong North American sales momentum

Vicinity Motor (NASDAQ:VEV) expects to complete deliveries of over 95 Vicinity Classic buses, 75 Vicinity Lightning EV buses and chassis, 200 VMC 1200 EV trucks, and 300 Vicinity Optimal EVs through the year ending December 31, 2022, to drive year end revenues of over $140M. FY 2022 Adjusted EBITDA is expected to be over $10 million with significant potential upside. The Company expects to deliver over 130 Vicinity Classic buses during 2021. The company continues to experience temporary delays from some suppliers and shipping companies delaying over 20 buses now expected to be delivered in 2022 rather than 2021. "Based on our existing backlog and large pipeline, we expect a strong cadence of sales growth into 2022 with additional near-term customer orders. To support this significant demand, our Washington State assembly facility is expected to begin operations by mid-2022 - beginning the ramp of U.S.-made vehicles," said William Trainer, CEO. "Our recent

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Vicinity Motor expects revenue of $140M amid strong North American sales momentum