Vicinity Motor Corp (TSE:VMC) has released an update.
Vicinity Motor Corp. has announced a 400% revenue increase to $13.3 million in Q1 2024, largely due to the sales of 44 electric trucks and 22 transit buses, marking a significant shift to positive cash flow from operations. The company has secured an additional order for 12 buses and expanded its dealership network across Canada, positioning itself strongly with an order backlog exceeding $125 million.
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