Vicinity Motor Corp. signed a licensing and marketing agreement partnering with Optimal Electric Vehicles LLC, a low-floor electric shuttle bus supplier, to serve as the exclusive North American distributor of its all-electric product line through Vicinity’s wide dealer network.
Vicinity Motor entered into the licensing and marketing agreement to license and sell the Optimal S1 and E1 product lines for a period of 10 years in exchange for an investment of $20 million. Optimal-EV will produce the vehicles and chassis for Vicinity Motor and Vicinity Motor will market and sell the vehicles directly in Canada and through a dealer network in the U.S. Vehicles will be branded “VMC Optimal” and the two partners will share in revenue and profits. The deal is intended to combine the strengths of the two companies in engineering, procurement, design, sales, and support.
With the agreement, Vicinity Motor will have access to:
Over $30 million in firm orders for deliveries in 2022.
LOI with existing Optimal-EV dealers for potential sales of $194 million in 2023.
Potential sales pipeline of over $600 million.
Having arrived in Q3 2021, the Optimal E1 is a Best in Class fully-electric low floor chassis built on the E450 frame, aimed to be an enabler for zero-emission operation of an extensive range of market segments, including commercial trucks and buses, ambulances, recreational vehicles, and fleet trucks. The E1's innovative powertrain system enables more than 125 miles of driving range, 75 mph top speed, 30% gradeability at maximum load, and utilizes high-performance battery systems from Proterra, which have industry-leading energy density, a flexible design to fit within a wide variety of vehicles, and rigorous pack level validation designed for safe and durable vehicle operation. The E1's flexible rear-drive design integrates the vehicle's fully-electric powertrain, including the 113 kWh Proterra Powered™ high-performance battery pack, in-between the chassis rails to allow for seamless aftermarket body integration. The vehicle can fully charge in about two hours with optional DC fast charging and will feature a gross vehicle weight rating of 14,500 pounds.
The Optimal S1 low floor cutaway shuttle bus, also built on the E450 chassis, takes full advantage of Optimal-EV's OEM-quality design and engineering to introduce a product that is both C/FMVSS and ADA compliant. Its low-floor design, which is made possible by the innovative packaging of battery-electric propulsion, allows for ultra-low 11-inch step-in height and quick deployment of an ADA-compliant accessibility ramp without the need for the added complexity of kneeling suspension. A variety of seating and storage configurations ensure the Optimal-EV S1 meets all of customers’ fleet needs.
