VANCOUVER, BC / ACCESSWIRE / July 20, 2023 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced a strategic collaboration with Lafarge Canada, Canada's largest provider of sustainable and innovative building materials, to electrify Lafarge's truck fleet and reduce their carbon footprint.

Lafarge Canada is initially deploying two all-electric VMC 1200 trucks in its British Columbia Aggregates and Ready Mix Operations, signaling a paradigm shift towards sustainable transportation solutions. This milestone represents Lafarge's commitment to leading the way in adopting electric vehicles in the industry. As Lafarge continues to expand its fleet, additional VMC models will be integrated throughout 2024.

Brad Kohl CEO Lafarge Canada (West) agrees: "The benefits of this electrification effort are twofold, delivering immediate cost savings and contributing to carbon emissions reductions, showcasing Lafarge's firm commitment to sustainability and its role in combating climate change. Lafarge Canada remains steadfast in its pursuit of sustainable practices in the construction industry, with the electrification of its truck fleet representing a significant milestone towards achieving net-zero emissions and driving positive change across the sector.

Lincoln Kyne, Senior Vice President and General Manager, BC Lafarge Canada (West), expressing his pride in this initiative, states:, "I am extremely proud of this industry-leading initiative with Vicinity Motor Corporation, a company rooted in British Columbia. With a proven track record in producing reliable electric vehicles that operate across North America, I am excited for the opportunity to collaborate on the design of new models for our business lines in the coming years."

William Trainer, Chief Executive Officer of Vicinity Motor Corp., added: "We are thrilled to announce this new electrification partnership with Lafarge, Canada's largest supplier of sustainable and innovative building solutions. Our VMC 1200 is the ideal vehicle to help their team advance sustainable transportation and reduce Carbon emissions in the Canadian building solutions sector - helping to create a better world for everyone. We look forward to working closely with the team at Lafarge to enable their electrification journey."

About Lafarge Canada Inc.

Lafarge Canada is a subsidiary of Holcim, a global leader in innovative and sustainable building solutions. Driven by its purpose to build progress for people and the planet, its 60,000 employees are on a mission to decarbonize building while improving living standards for all. The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet. With its innovative systems, from Elevate's roofing to PRB's insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of its strategy, Holcim is becoming a net-zero company with 1.5°C targets validated by SBTi. To learn more, please visit www.lafarge.ca.

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.

VMC Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
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VMC Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
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www.mzgroup.us

Lafarge Media Contacts:

Kristen Marston
Communications and Marketing Manager, Western Canada
Lafarge Canada Inc.
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Adetutu Opeyemi
External Communications and Marketing Advisor, Eastern Canada
Lafarge Canada Inc.
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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.

Per the terms of the strategic collaboration, Vicinity will fill a crucial gap in the EV market with its purpose-built, custom-upfit all-electric industrial vehicle - the VMC 1200 - specifically for Lafarge Canada. Designed to excel in aggregates and production sites, even in the face of challenging weather conditions, this cutting-edge vehicle sets a new standard for sustainable transportation in the construction materials industry.