Vicinity Motor licensed to sell Optimal-EV products in North America
By Bradley Osborne - 4th October 2021
Canada / USA – Vicinity Motor Corp., a commercial electric vehicle manufacturer based in Aldergrove, British Columbia, Canada, has struck a licensing and marketing agreement with Optimal Electric Vehicles LLC (“Optimal-EV”), a subsidiary of engineering services provider Optimal Inc of Plymouth, Michigan, USA. The contract grants Vicinity Motor exclusive distribution rights to Optimal-EV’s all-electric product line in North America.
According to the agreement, Vicinity Motor may license and sell the Optimal S1 and E1 product lines1 for a period of 10 years in exchange for a USD20m investment. Optimal-EV will continue to produce the vehicles and chassis, while Vicinity Motor will sell them directly in Canada and through its dealer network in the U.S. The products will be branded as ‘VMC Optimal’, and the two companies will share in the sales revenue and profits generated.
