This is part of a broader analysis of Vicinity Motors. For more, click here.
In the last year, Vicinity Motors went through a transformative phase, they uplisted from OTC to Nasdaq, changed their branding from Grande West Transportation to Vicinity Motor Group, underwent a ticker change in Canada and the US and hired reputable board members. The catalyst that justified this turn around is incontestably the announcement on November 2020 of the Lightning EV bus line.
Fully designed by VMC's team and with 29 buses currently in production, the Lightning EV is expected to hit the market in 2022 with first deliveries for showcases models in Q4 2021. As for now, current production of these first models isn't public information, but in July of this year they had the groundbreaking ceremony of their new Washington plant that will be assembling the Lightning Ev line and the VMC 1200 EV truck line. The event was attended by the state governor, the company was granted 300 thousands dollars for the training and the formation of the 30+ expected employees. The new plant located a few miles from the company's Canadian headquarters has been designed with scalability and expansion in mind and should start production in the first half of 2022.
Distribution
In February 2021, the company announced a partnership with ABC companies for distribution and sales in the U.S. The announcement was followed with a 10 buses order in March, then with a State wide contract to sale to government transit agencies in California, New Mexico and Washington. ABC companies is a household name in the US since its foundation in the 50s, with a network spanning over the entire country, over 11 thousands buses sold since 1987 and 200 thousands parts in stock, ABC is still undergoing expansion as they diversify their offer to their potential customers.
As for Canada, the company should go through their usual distribution channels that has been developed and maintained during Grande West Transportation's years.
Bus specs
There is still little available information on the actual parts and specs that will compose the new vicinity Motors Lightning EV line. Like the classic model, the Lightning EV will also be a 28 feet long, low floor light-duty bus, featuring a weight balanced architecture that offers high maneuverability for an expected ASP of $350k USD, a lower cost than what most competitors are offering.
The systems feature a Buy America Compliant 220kW motor with an Eaton multi-speed transmission. They are also fitted with a digital AVIONICS controller and inverter to enable the intelligent management of all the vehicle’s operations. Weighing only 85 kg, Danfoss Editron’s drivetrain systems are significantly lighter in weight than other electric drivetrains on the market, which can weigh as much as 500 kg. Manufactured in Danfoss Editron’s Colorado plant, these Buy America Compliant motors are a key part of the Vicinity Lightning™ product that will be assembled in the new VMC Washington State manufacturing facility.
William Trainer, Founder and CEO of Vicinity Motor Corp said, “The EDITRON drivetrain and the expert team at Danfoss Editron are an ideal partner for us as we continue to expand the breadth of our EV product suite. We have issued a purchase order for 300 of the company’s drivetrain systems to guaranty supply for our customers through 2022. We look forward to continue working with the team at Danfoss Editron to build a globally competitive, cost-effective vehicle for our customers.”
Eaton is a transmission manufacturer since 1911, last year they generated $17 billions in revenues. They expanded in the EV sector in 2018 with 4 models of EV transmissions. Transmission aren't essentials to an Electric car working with a direct drive system but for heavy-duty vehicles it allows a greater torque especially when going uphill or when fully loaded, it also allows a smaller electric motor. These two promotional videos shows a more in-depth view of the components of the transmission, meanwhile this link direct you to the OEM website.
The Coil Driverᵀᴹ can be seen as an intelligent electric gear box, it automatically selects the appropriate configuration in real time so that torque demand and efficiency are optimized.
Currently, EVs require three different types of power electronics components to power the vehicles in motion and charge the batteries from the grid or renewable energy sources: a motor drive, on-board charger and external DC fast charger. Exro engineers found that the Coil Driverᵀᴹ technology has the ability to replace all three components, significantly reducing the cost and complexity of deploying EVs and the charging infrastructure at scale.
Switching automatically and seamlessly, Coil Driver™ selects the appropriate torque profile to optimize the current torque and speed demand. Unlike standard inverters, Coil Driver™ achieves 100% utilization of DC link voltage in both its series and parallel modes. This significantly extends the capabilities of the electric motor, leading to:
Starting torque increase
Overall torque output improvement across the speed spectrum
Enhanced power across the speed spectrum
Reduced mechanical loss and total cost of ownership
Lion Smart and Vicinity Motor Corp. are expanding their cooperation as Lion receives a follow-up order to integrate a customized battery system solution. The total order volume is in the upper six-figure range, it comprises 80 battery packs. The contract involves the supply, and integration of additional 400V BMW battery packs into further demonstrator shuttle/transit bus models, built by Vicinity Motor Corp. Lion adds it will also deliver a plug-and-play solution for integrated battery packs. Lion Smart is a Swiss holding and longstanding BMW partner and develops and implements integration services for vehicle battery system solutions based on BMW i3 batteries and modules.
The high-voltage battery is produced at the BMW plant in Dingolfing and consists of eight modules, each with twelve storage cells: the latest advancements have resulted in a capacity of 120 Ah along with a gross energy content of 42.2 kWh – while the size remains unchanged. This is yet another major step towards increased range. For comparison: at the market launch of the BMW i3 in 2013, the equivalent figures were 60 Ah and 22.6 kWh, while the second-generation battery introduced in 2016 reaches a level of 94 Ah and 33 kWh.
The power electronics and high-voltage battery in the BMW i3 and BMW i3s can also be used in conjunction with quick-charging stations that run on DC power. The charging capacity is 50 kW and the high-voltage battery reaches 80 per cent of its total power in just 42 minutes.
With its battery capacity increased to 42.2 kWh, the latest version of the BMW i3 also follows the brand's holistic concept, applicable since market launch and geared towards responsible use of resources: this includes not just locally emissions-free power but also material selection and production techniques as well as mobility services. The BMW i3 (120 Ah) and the BMW i3s (120 Ah) have a much more favorable CO2 footprint across the entire vehicle lifecycle – from raw material extraction and manufacture through to use and recycling – and this makes for significantly lower global warming potential than is the case with comparable, conventionally powered automobiles.
Conclusion
With a production expected to start in the second half of 2022, the Lightning EV bus is going to be produced at Vicinity's recently announced "Buy America" compliant assembly facility in the State of Washington. With a global bus market worth over 30 Billions dollars in 2020, Vicinity Motors is striving to capture a bigger share with this new unique model at a really attractive price of 350 thousands dollars.
Disclaimer: We are long $VEV, not investment advice, not a registered professional. You could lose everything, buy at your own risks.
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