Vicinity Motor Corp. Secures Order for 8 Vicinity(TM) Classic Clean Diesel Buses from La Québécoise

VANCOUVER, BC / ACCESSWIRE / December 18, 2023 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced the receipt of a new purchase order from Autobus La Québécoise for eight (8) Vicinity™ Classic buses to service the City of Joliette, Quebec.

Per the terms of the supply agreement, Autobus La Québécoise has ordered eight of the Company's 32-foot Clean-Diesel Vicinity™ Classic buses for delivery in 2024. Autobus La Québécoise is part of Groupe La Québécoise, which consists of approximately twenty companies offering various types of transportation services, including school bus, municipal, paratransit, shuttle, intercity, charter, helicopter, residual materials pick-up, executive aircraft charter, regional airline service and aeromedical evacuation. The business operates primarily in Quebec, but its service extends into other parts of Canada as well as the United States.

"La Québécoise is a leader in Quebec's passenger transportation industry, and this order continues to validate our Vicinity Classic transit bus strategy and leadership," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. "Our transit buses continue to play a major role in our backlog, supporting the transition to a business primarily driven by the sales of EV buses and trucks.

"Extending throughout several regions and serving multiple types of clients, La Québécoise continues to diversify its operations. As we fulfill their current transit needs, we believe we are well positioned to benefit as La Québécoise and partners like them continue to diversify their fleets with new vehicles that offer additional efficiencies, greenhouse gas emission reductions and support long-term sustainability targets. We look forward to working closely with La Québécoise to deliver these vehicles in the coming year."

About Vicinity Motor Corp.

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

Company Contact:

John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com

Investor Relations Contact:

Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Vicinity Motor Corp.