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Vicinity Motor announces eligibility in new Transport Canada incentive program for affordable buying or leasing zero-emission vehicles

Vicinity Motor Corp (TSX-V:VMC) has announced that its VMC 1200 Class 3 electric trucks have been found eligible for Transport Canada's new incentive program for medium and heavy-duty zero-emission vehicles (iMHZEV) which makes buying or leasing zero-emission vehicles more affordable. The company said the C£550 million iMHZEV program offered point-of-sale incentives for Canadian organizations and businesses which buy or lease an approved MHZEV, ranging from C£10,000 to C£200,000 depending on the vehicle type. Vicinity Motor CEO William Trainer said the iMHZEV program was a continuation of the Canadian government's substantial efforts to enable organizations and businesses to electrify their fleets.

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"The incentive will provide approximately 50% of the cost difference between traditional diesel vehicles and a zero-emission alternative, further assisting fleets as they seek to reduce their carbon footprint," Trainer said. 

He added that the VMC 1200 continued to attract attention from dealers and customers seeking fully electric vehicles for ultra-quiet operation while aligning with clean fleet goals. "We look forward to offering our Canadian customers the benefits of this additional incentive, making our electric vehicle offering more competitive than ever," he said. Vicinity Motor is a North American supplier of electric vehicles for both public and commercial enterprise use.

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