On 25 October, the entire Board of Directors at the Canadian manufacturer resigned from their positions, following the grant of a petition for receivership of the company by the Royal Bank of Canada.

On 9 August, the Royal Bank of Canada and Export Development Canada served Vicinity Motor letters demanding full and immediate payment of outstanding debt balances, totalling nearly USD28m.

He was promoted to the newly created role of President and will work alongside founder and CEO William Trainer to expand distribution across North America and oversee production in the United States.

Agreements were signed with dealers in southern Alberta, Toronto, and Montreal.

Vicinity made its presence known to the APTA visitors by displaying the Vicinity Lightning featuring Exro’s ‘two speed’ inverter and announced two new Level 4 AD trial projects.

Vehicle deployment is to take place on the 120 acre campus in mid-2024.

The two companies have announced plans to integrate Adastec’s ‘Flowride.ai’ technology with the ‘Vicinity Lightning’ battery electric bus.

The Ferndale facility has the capacity to produce up to 850 ‘Vicinity Classic’ and ‘Vicinity Lightning’ (i.e., ICE and EV) buses and 6,250 ‘VMC 1200’ battery electric trucks per year.

The cement and concrete manufacturer, based in Calgary, Alberta, is looking to transition its fleet to 100% electric vehicles with Vicinity Motor’s Class 3 ‘VMC 1200’ trucks.

The results showed that the Canadian CV manufacturer's revenues dropped by over 55% from USD41.7m in 2021 to USD18.5m.

The focus of the two companies is to focus initially in the smaller buses, i.e. 28 to 30 foot transit bus segment.

The credit facility is being provided by the Royal Bank of Canada and Export Development Canada to fund production of its Class 3 electric trucks.