Vicinity Motor Corp. Announces VMC 1200 Distribution Agreement With Shift EV Trucks In West Toronto, Canada
Portfolio Pulse from Benzinga Newsdesk
Vicinity Motor Corp. (NASDAQ:VEV) has entered into a distribution agreement with Shift EV Trucks to open Vicinity Trucks West Toronto, a dealership dedicated to Vicinity's commercial electric vehicles. Shift EV Trucks, an established dealership since 2013, will now offer Vicinity's VMC 1200 trucks in West Toronto, aiming to expand into the commercial EV market. The partnership is expected to capitalize on the growing demand for commercial EVs, driven by lower ownership costs, regulatory support, and government incentives.
January 08, 2024 | 2:07 pm
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Vicinity Motor Corp.'s new distribution agreement with Shift EV Trucks to sell VMC 1200 trucks in West Toronto could boost sales and market presence in the commercial EV sector.
The distribution agreement with Shift EV Trucks is likely to have a positive impact on Vicinity Motor Corp.'s sales and market penetration in the commercial EV sector, which is a growing market. The partnership with a reputable dealer could enhance the company's distribution capabilities and brand recognition in the region.
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