Why Vicinity Motor Stock Is Trading Higher

Vicinity Motor Corp VEV shares are trading higher on Wednesday after the company announced it will begin delivering the first class 3 electric truck in Canada.

Vicinity said it designed the VMC 1200 electric truck to meet the growing demand for zero-emission medium-duty commercial vehicles. The vehicle is designed for use in applications ranging from construction and utilities to deliveries.

"The VMC 1200 will help British Columbia and Canada become leaders in the electric vehicle sector, while supporting the government's ambitious net zero transportation goals, local job growth and economic diversification," said William Trainer, Founder and CEO of Vicinity Motor.

The VMC 1200 has started rolling off the assembly lines in Canada. The distribution of the VMC 1200, which should represent a significant part of sales in the short term, will begin this month.

Vicinity Motor is a North American supplier of electric vehicles to public and commercial businesses.

See also: Why Nauticus Robotics Stock Is Soaring Today

VEV Price Action: Vicinity Motor has a 52-week high of $4.29 and a 52-week low of 96 cents.

The stock is up 7.01% at $1.15 at press time, according to Benzinga Pro.

Photo: Markus Distelrath from Pixabay.

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