Vicinity Motor Corp. announces a strategic partnership with sustainability partners to accelerate the electrification of the government fleet

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The Electric Vehicles as a Service™ (EVaaS) program funds the conversion of government fleets to electric vehicles

VANCOUVER, BC /ACCESSWIRE/May 17, 2022/ Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) (“Vicinity” or the “Company”), a North American provider of commercial electric vehicles, announced today that it has entered into a master goods and services with Sustainability Partners LLC (“SP”), an ESG-focused company committed to eliminating deferred maintenance infrastructure by enabling sustainability, using its Electric Vehicles as a Service™ (EVaaS) program to fund the conversion of traditional government fleets to Vicinity electric vehicles.

Sustainability Partners works with government institutions including municipalities, airports, universities and schools, hospitals, and water/rail/electric districts to convert critical fleet infrastructure into monthly utility service in a way that protects institutions, assets and taxpayers. The EVAaS program replaces unreliable, unsafe and expensive fleet infrastructure with Vicinity’s modern electrified solutions, built tough with built-in long-term support. SP can pay 100% of the purchase price while ensuring vehicles are continuously maintained in good condition.

Under the terms of the agreement, SP will engage Vicinity as an independent contractor to purchase its portfolio of electric vehicles, including Vicinity Lightning.MT buses, VMC Optimal vehicles and VMC 1200 Class 3 electric trucks for government and corporate fleets using its EVAaS program.

“SP’s usage-based monthly service is a uniquely structured, OpEx-oriented alternative to the traditional purchase of government fleets,” said William Trainer, founder and CEO of Vicinity Motor Corp. “The program allows institutions and individuals in the industry to modernize their fleets while benefiting from efficient and profitable electric vehicles. SP is a clear alternative to traditional purchase or public works contracts with financing, surety, PPP, leasing, EPC and shared savings arrangements.

“Our broad portfolio of commercial electric vehicles can be used by SP’s vast array of customers and fleets. We look forward to helping their sales team share the benefits of our heavy-duty, light-duty and special-purpose electric vehicles with their important customer base,” Trainer concluded.

Thomas Cain, CEO and Founder of Sustainability Partners, added, “Vicinity products are a great addition to our EVaaS program as our customers increasingly seek electrified options to meet their sustainability and ESG goals. Our customers’ needs and priorities for electric vehicles continue to evolve. , and we believe Vicinity’s product line offers the diverse and compelling range of EV options they need, all from a widely respected leader in the rapidly expanding EV market. »

About sustainability partners
Sustainability Partners, LLC (“SP”) is an ESG-focused company committed to eliminating deferred maintenance infrastructure by enabling sustainability, delivering exceptional customer experiences, and ultimately improving resilience, health and safety. safer communities across America through innovation and industry best practices. SP pays to convert critical infrastructure into monthly utility service in a way that protects institutions, assets and taxpayers. Our customers are government institutions including hospitals, cities, towns and schools across the country. We solve your capital needs for infrastructure, then partner with you to keep it reliable, safe and efficient at all times. For more information, please visit www.sustainable.partners.

About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a North American supplier of electric vehicles for public and commercial enterprises. The Company relies on a dealer network and close relationships with world-class manufacturing partners to supply its flagship Vicinity electric, CNG and clean diesel buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle . In addition, the company sells its proprietary electric chassis alongside the EAVX business unit of JB Poindexter, the company’s strategic partner, for equipping next-generation delivery vehicles. For more information, please visit www.vicinitymotorcorp.com.

Company Contact:
Jean LaGourgue
Vice President of Corporate Development
604-288-8043
[email protected]

US Investor Relations Contact:
Lucas Zimmerman or Mark Schwalenberg, CFA
MZ Group – MZ North America
949-259-4987
[email protected]
www.mzgroup.us

Canadian Investor Relations Contact:
MarketSmart Communications Inc.
877-261-4466
[email protected]

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

Caution Regarding Forward-Looking Statements
This press release contains 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”, “could”, “might” 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 economic conditions in the markets in which Vicinity operates, vehicle sales volume, expected future sales growth, the success Vicinity’s operating strategies, the timing of the completion of the vehicle assembly plant in Washington State, the effect of the COVID-19 pandemic, government restrictions on operations, the success of Vicinity’s strategic partnerships; and other risks 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 as of the date the statements are made. Vicinity undertakes no obligation to update any forward-looking statements or beliefs, opinions, projections or other factors should they change, except as required by law.

THE SOURCE: Vicinity Motor Corp.

See the source version on accesswire.com:
https://www.accesswire.com/701239/Vicinity-Motor-Corp-Announces-Strategic-Partnership-with-Sustainability-Partners-to-Accelerate-Government-Fleet-Electrification

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