Vicinity Motor Corp.

OTCPK:VEVM.Q Stock Report

Market Cap: US$50.0

Vicinity Motor Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

William Trainer

Chief executive officer

n/a

Total compensation

CEO salary percentagen/a
CEO tenure18.5yrs
CEO ownership1.0%
Management average tenure6.8yrs
Board average tenureno data

Recent management updates

Recent updates

Seeking Alpha • Oct 17

Vicinity Motor gains on securing a purchase order worth over $100M

Vicinity Motor (NASDAQ:VEV) shares are surging premarket on securing a purchase order that exceeds $100M for 1,000 VMC 1200 Class 3 Electric Trucks from Pioneer Auto Group. Per the terms of the purchase order, the company is to deliver a electric trucks by the end of 2023. The deliveries are expected to commence this month. "We started manufacturing this vehicle in Canada and expect to shift to our new facility in Ferndale, Washington, which can accommodate both buses and trucks, by year-end. Given the simplified assembly of the VMC 1200 as compared to a transit bus, Ferndale truck capacity could reach 10,000 vehicles per year. Due to the fact we are not facing significant pressures in the VMC 1200 supply chain specifically, the VMC 1200 will prove to be a significant contributor to our 2023 revenue growth and profitability - enabling our goal of creating sustainable, long-term value creation for our shareholders," said William Trainer, Chief Executive Officer of Vicinity Motor Corp. Shares are trading up 38% premarket.
Seeking Alpha • Oct 06

Vicinity Motor secures order for four Vicinity Lightning electric buses

Vicinity Motor (NASDAQ:VEV) has received an order from strategic partner Sustainability Partners for four Vicinity Lightning electric buses via Soderholm Sales & Leasing. The State of Hawaii Department of Transportation will utilize SP's Electric Vehicles as a Service program to finance the conversion of traditional government fleets to Vicinity's electric vehicles. The order of four new electric buses is scheduled for delivery in 2023. "We continue to see significant interest from regional and international airports for EV passenger shuttle services given their inherent advantages," concluded William Trainer, Founder and CEO of Vicinity Motor.
Seeking Alpha • Jul 19

Vicinity Motor signs distribution agreement with Schetky Bus and Van Sales

Vicinity Motor (NASDAQ:VEV) signed a distribution agreement with Schetky Bus and Van Sales, dealership and transportation solutions provider, for offering the Vicinity Lightning, Vicinity Classic and VMC-Optimal vehicles, including an initial commitment for 18 vehicles. Under agreement terms, Schetky will distribute Vicinity vehicles across Washington, Oregon, Idaho and Alaska; Vicinity line adds to Schetky's portfolio of existing internal combustion and electric vehicles. Shares trading 1.1% higher premarket.
Seeking Alpha • May 18

Vicinity Motor - Downgrading To 'Sell' After Lowered Guidance

Company reported weak first quarter results and also lowered full-year guidance substantially. In contrast to management's previous expectations, the company will be materially affected by ongoing supply chain disruptions. Cash position appears insufficient to deal with capex requirements, near-term debt maturities, and the expected production ramp-up for the remainder of the year. Reiterating my expectations for the company being required to raise additional capital over the course of the year. With very little confidence in management's ability to execute and a high likelihood of additional dilution in the not-too-distant future, I am downgrading shares from "hold" to "sell".
Seeking Alpha • Apr 01

Vicinity Motor - Avoid Due To Additional Capital Needs And Elevated Execution Risk

Discussing ambitious BEV-transition plans of small Canadian bus manufacturer Vicinity Motor. Based on an order backlog "in excess of C$100 million" management expects 2022 revenues to increase by 170% to C$140 million with adjusted EBITDA of C$10 million. Most recent capital raise has caused shares to tumble to new 52-week lows. The company will likely require additional capital to deliver on its stated order backlog. Outlining a number of red flags, including the company's engagement in paid stock promotion in Germany. Based on management's projections for this year, Vicinity Motor looks inexpensive, but investors should abstain from chasing the shares given the likely requirement to raise additional capital and elevated execution risk.
Seeking Alpha • Jan 22

Vicinity Motor Looks Cheap Based On 2022 Forecasts, It's My Top Pick In EV Space

The company is building an EV production facility in the USA that is set to open in the first half of 2022. Vicinity forecasts that its sales and EBITDA could soar to more than C$140 million ($112.1 million) and to over C$10 million ($8 million) in 2022, respectively. Yet, the share price has dropped by 68% since the July 2021 listing as the second half of the year has been marked by low delivery figures. I view this as a good time to open a position in Vicinity, although the market valuation could continue to decline before the opening of the new facility.

CEO Compensation Analysis

How has William Trainer's remuneration changed compared to Vicinity Motor's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2024n/an/a

-US$18m

Dec 31 2023US$437kUS$353k

-US$17m

Sep 30 2023n/an/a

-US$11m

Jun 30 2023n/an/a

-US$14m

Mar 31 2023n/an/a

-US$17m

Dec 31 2022US$355kUS$345k

-US$18m

Sep 30 2022n/an/a

-US$19m

Jun 30 2022n/an/a

-US$15m

Mar 31 2022n/an/a

-US$12m

Dec 31 2021US$1mUS$342k

-US$7m

Sep 30 2021n/an/a

-US$3m

Jun 30 2021n/an/a

US$59k

Mar 31 2021n/an/a

-US$260k

Dec 31 2020US$322kUS$322k

-US$3m

Sep 30 2020n/an/a

-US$4m

Jun 30 2020n/an/a

-US$5m

Mar 31 2020n/an/a

-US$4m

Dec 31 2019US$415kUS$225k

-US$4m

Compensation vs Market: Insufficient data to establish whether William's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Insufficient data to compare William's compensation with company performance.

CEO

William Trainer (67 yo)

18.5yrs
Tenure
US$436,694
Compensation

Mr. William R. Trainer serves as Chief Executive Officer of Vicinity Motor Corp. (formerly known as Grande West Transportation Group Inc) since August 26, 2019 and had been its Director since December 4, 2...

Leadership Team

NamePositionTenureCompensationOwnership
William Trainer
Founder & CEO18.5yrsUS$436.69k0.96%
$ 0.5
John LaGourgue
VP of Corporate Development9.5yrsUS$268.31kno data
Brent Phillips
President2.3yrsno datano data
Dan Courtney
Director of Investor Relations10.5yrsno datano data
Jeff Madura
Senior Director of Sales2.1yrsno datano data
Yue Wang
Chief Engineerno dataUS$244.84kno data
Keith Parker
Consultant6.8yrsUS$10.22kno data
Marion McGrath
Corporate Secretary6.3yrsno datano data
6.8yrs
Average Tenure
64yo
Average Age

Experienced Management: VEVM.Q's management team is seasoned and experienced (6.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/05 00:28
End of Day Share Price 2026/06/29 00:00
Earnings2024/03/31
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Vicinity Motor Corp. is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Charles FrattAlliance Global Partners
Ahmad ShaathBeacon Securities Limited