Vicinity Motor Corp. (VEV) Q4 2023 Earnings Call Transcript | Old North State Wealth News
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Vicinity Motor Corp. (VEV) Q4 2023 Earnings Call Transcript

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Vicinity Motor Corp. (NASDAQ:VEV) Q4 2023 Earnings Conference Call April 2, 2024 4:30 PM ET

Company Participants

William Trainer – Founder and CEO
Dan Buckle – CFO

Conference Call Participants

Robin Cornwell – Catalyst Research
Poe Fratt – Alliance Global Partners

Operator

Greetings and welcome to the Vicinity Motor Corp. Fourth Quarter and Full Year 2023 Corporate Update Conference Call. At this time all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

Before we begin the formal presentation, I’d like to remind everyone that statements made on today’s call and the webcast, including those regarding future financial results and industry prospects, are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results, to differ materially from those described on the call. Please refer to the company’s regulatory filings for a list of associated risks, we would also refer you to the company’s website, for more supporting industry information.

I would now like to turn the call over to William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. William, the floor is yours.

William Trainer

Thank you, operator, and good afternoon, everyone. I’m pleased to welcome you to today’s fourth quarter and full year 2023 corporate update and conference call.

The fourth quarter of 2023 was focused on the build-out, of our VMC 1200 dealership network across Canada, and deliveries of our VMC 1200 electric trucks and transit buses.

During the quarter, we sold 11 transit buses to eager customers, as well as invoice dealership customers for an additional 71 VMC 1200 electric trucks in December 2023, which we expect to recognize in the first half of 2024.

To meet the growing demand during the quarter, we recently announced several

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