Vicinity Motor signs dealer network services agreement with DSMA to expand North American network

Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced it signed a dealer network development services agreement with Dealer Solutions Mergers and Acquisitions (“DSMA”) to enhance North American market penetration for its Class 3 VMC 1200 all-electric trucks.

VANCOUVER — Vicinity Motor Corp., a North American supplier of commercial electric vehicles, signed a dealer network development services agreement with Dealer Solutions Mergers and Acquisitions (DSMA) to enhance North American market penetration for its Class 3 VMC 1200 all-electric trucks.

“DSMA is the premier transaction originator and advisor in the North American automotive and heavy equipment sectors, with an unrivaled ability to reach any dealer in Canada or the United States,” said John LaGourgue, VP Sales and Corporate Development at Vicinity Motor Corp. “By working with DSMA, we will be able to more rapidly secure high-value dealer partnerships that will maximize our ability to deliver VMC 1200 trucks to market while ensuring the highest level of customer service and satisfaction.”

Per the terms of the services agreement, DSMA will assist Vicinity in identifying and establishing dealer performance criteria, metrics, and guidelines for selecting and prioritizing dealership opportunities, setting the strategy for “early adopters”, prioritizing geographic focus and helping define opportunities to enter different markets or introduce new vehicle offerings.

“We believe that our VMC 1200 truck, and those interested in acquiring the first all-electric Class 3 truck, are best served by automotive and commercial equipment dealers that are already established in their markets and have a deep understanding of the local customer base,” added William Trainer, Vicinity’s Founder and CEO. “Our expertise is delivering industry-leading buses and trucks that are purpose designed for the markets they serve. When addressing the light-to-medium duty truck market, which equates to about 500,000 new units a year, it is a natural fit for us to partner with the groups that are already addressing the market with premier dealer services. DSMA can help us identify and execute on these relationships.”

Farid Ahmad, Founder and CEO of DSMA, added: “We believe there is a tremendous market demand for a fully electric Class 3 commercial EV such as the VMC 1200 and look forward to leveraging our expertise to expedite the entry of this flagship vehicle into key markets across North America.”