“We are incredibly pleased to announce this transformational milestone in Vicinity’s evolution as a leading commercial EV manufacturer. Deliveries under the PO are expected to commence this month. With the terms of the PO, which exceeds US$100 million in revenue, Vicinity is to deliver a minimum of 1,000 VMC Class 3 Electric Trucks by the end of 2023. Why: Vicinity Motor announced the receipt of a purchase order for 1,0 Class 3 Electric Trucks (the PO) from Pioneer Auto Group – Vicinity’s exclusive dealer in the province of British Columbia, Canada. The stock price of Vicinity Motor (VEV) increased by over 8% intraday today. NASDAQ does not use this value to determine compliance with the listing requirements.Vicinity Motor (VEV) Stock: Why It Increased Over 8% Today "Market Cap" is derived from the last sale price for the displayed class of listed securities and the total number of shares outstanding for both listed and unlisted securities (as applicable). It does not include securities convertible into the common equity securities. Market Cap (Capitalization) is a measure of the estimated value of the common equity securities of the company or their equivalent.
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