Vicinity Motor Corp. and ADASTEC to Deploy Automated Transit Buses at Michigan State University

VANCOUVER, BC / ACCESSWIRE / October 9, 2023 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has entered into an agreement to deploy an SAE level-4 vehicle, the Vicinity Autonomous Lightning Electric transit bus, at Michigan State University in conjunction with automated driving software platform provider ADASTEC Corporation.

Per the terms of the agreement, the vehicle deployment will take place at the MSU East Lansing Campus in the second quarter of 2024, showcasing Vicinity's next-generation electric transit bus outfitted with ADASTEC's cutting edge automated transportation technology. This landmark initiative is set to be the first of its kind in North America.

ADASTEC's journey at MSU began in August 2021 when the company initiated passenger services using SAE Level-4 automated driving software technology, making history as the one and only full-size automated bus deployed on public roads in the U.S. to transport passengers within the MSU community. The service covered a 4.6-mile route, including seven intersections, pedestrian crossings, and a bicycle lane, all while maintaining a maximum speed of 25 mph. This groundbreaking initiative, equipped with Signal Phase and Timing (SPAT) technology with the vision of shared and connected transportation to improve rider comfort and energy efficiency, quickly became a testament to the future of campus transit.

Adam S. Lawver, Director of Campus Services at Michigan State University, said: "The partnership between ADASTEC and MSU's Infrastructure, Planning, and Facilities team has created the opportunity to learn and assess the performance of mobility infrastructure assets MSU installed to advance the operational deployment of the automated bus on MSU's East Lansing campus. It is exciting to continue this important work for not only improving the MSU campus mobility infrastructure, but to help other entities learn from our deployment, so they can build upon and advance to further stages of their respective mobility efforts."

Dr. Ali, Chief Executive Officer of ADASTEC, added: "ADASTEC, in partnership with Michigan State University, has taken its mission to redefine transportation to the next level with Vicinity Motor Corporation and our SAE level-4 technology suite. This collaboration introduces automated electric buses to the dynamic U.S. market, leveraging our global deployment experience. This journey symbolizes our unwavering commitment to innovation and its contribution to the evolution of mobility solutions within the MSU ecosystem."

William Trainer, CEO, President, and Director of VMC, points out, "'Our collaboration with ADASTEC and Michigan State University is not only exciting for VMC, but it also marks a new era in public transportation solutions for the United States. This partnership emphasizes our shared commitment to industry leadership and our dedication to fosting automated solutions for customers, such as our exciting work with Michigan State University. ADASTEC's extensive experience with SAE Level-4 automated driving software perfectly complements our capabilities, setting the stage for leading advancements in this transformative field, with MSU playing a key role in our collective journey."

Cemre Kavvasoglu, North America Product Management Director of ADASTEC, expressed the profound connection between ADASTEC, MSU, and Vicinity Motor Corp: "Our partnership with Michigan State University goes beyond just a testing ground; it's a living lab for mobility and a true home for us. This partnership signifies a long-term commitment and a strengthening of our relationship. FMVSS, ADA, and Buy America-compliant buses from Vicinity Motor Corp. will set new standards in campus transit."

Judd Herzer, Mobility Director at Michigan State University, stated: "Our very successful partnership with ADASTEC has contributed greatly to Michigan State University's status as a leading mobility research institution. The level of professionalism and technical expertise at ADASTEC gives us confidence in our shared vision for the future of ADAS technologies and transit services."

Satish Udpa, University Distinguished Professor of Electrical and Computer Engineering, added: "Our partnership with ADASTEC has led to many firsts, including the first deployment of a large, automated bus service in the country. Our journey together has led to many breakthroughs in technical, social, legal, and business aspects of this new and exciting technology."

Brent Phillips, Sr. Director of Sales at Vicinity, concluded: "Our collaboration with ADASTEC and Michigan State University is not only exciting for Vicinity, but it also marks a new era in public transportation solutions for the United States. We are privileged to lead the industry by delivering the first fully autonomous Buy America and FMVSS-compliant low-floor bus, setting the standard for accessibility and safety."

About MSU Mobility:
MSU has transformed its 5,200-acre campus into a live, connected ecosystem to advance smart-vehicle technology and better understand the human element. With a range of urban, suburban, industrial, and rural zones featuring nearly 60 lane miles of roads, MSU's controlled infrastructure and active campus make it ideal to test emerging technologies for new mobility solutions.

Spartan Mobility Village is home to MSU's mobility labs, where roadways and parking lots can be closed for testing of new technologies. In the future, the campus, which includes a number of buildings and other structures, will be used to develop sensing technologies that can deal with radar clutter typically generated in suburban and urban environments.

To learn more about mobility at MSU and the university's ecosystem approach, visit mobility.msu.edu.

About ADASTEC Corp.
ADASTEC Corp. is a software company that enables full-sized and full-speed electric public transit buses to become SAE Level-4 automated. ADASTEC's software platform, named flowride.ai, and sensor stack can be integrated into bus OEMs and can be serially produced. The software enables transit buses to operate in mixed traffic on public roads while also meeting all public transportation requirements of modern and visionary cities worldwide. ADASTEC's HQ is located in Michigan, USA, the company's R&D office is in Istanbul, Turkey, as well as offices in Brabant, the Netherlands, and Stockholm, Sweden. For more information, please visit www.adastec.com.

About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

Vicinity Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com

Vicinity Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us

ADASTEC Media Contact:
Yasemin Us
Corporate Communication and Marketing Lead
+1 (989) 493-4723
yasemin@adastec.com
www.adastec.com

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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Vicinity Motor Corp.