VANCOUVER, BC / ACCESSWIRE / September 26, 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 the Village of New Square, New York for four (4) Vicinity^TM Classic buses.

Per the terms of the supply agreement, the Village of New Square has ordered four of the Company's 32-foot Clean-Diesel Vicinity^TM Classic buses for delivery in the fourth quarter of 2023. The Vicinity buses will service New Square, a village north of New York City, providing enhanced mobility solutions through the low-floor design - which includes an automatic personal mobility aid access ramp for wheelchairs.

"We continue to leverage the market leadership position of our Classic bus line as a foundational building block of our revenue mix," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. "In addition, we view our Vicinity^TM Classic line as an opening partnership with communities that could evolve into EV sales in the future.

"From large public transportation systems to small communities, our Vicinity Classic and Lightning mid-size buses - running on electric, compressed natural gas (CNG), or clean-diesel powertrains - have proven popular among transit operators seeking a competitive and reliable product with unmatched durability, as compared to cut-away buses built on a truck chassis. We look forward fulfilling the immediate needs of the Village of New Square community with the delivery of these vehicles later this year," concluded Trainer.

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
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Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
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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.