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Lightning eMotors (NYSE: ZEV) has partnered with RideCo to supply an initial fleet of 10 zero-emission passenger vans for the Los Angeles County Metropolitan Transportation Authority (Metro). This initiative supports Metro's goal of transitioning to a zero-emission fleet and reflects a growing interest from public transit authorities in sustainable transport solutions. RideCo plans to have all 10 vans operational by early next year. Lightning eMotors continues to expand its presence in the market, having deployed over a dozen fleets in the past year.
Lightning eMotors reported record revenues of $16.8 million for the first nine months of 2021, a 212% increase year-over-year, and $6.3 million for Q3, which is a 65% year-over-year growth. The company delivered 43 zero emission vehicles in Q3, up 43% year-over-year. Lightning eMotors has entered the electric school bus market with a multi-year agreement with Collins Bus and secured a long-term battery supply agreement with Proterra, enhancing its supply chain visibility. Despite these achievements, the company reported a net loss of $49.5 million for Q3 and $123 million for the first nine months, largely due to non-cash liabilities and increased operating expenses.
Lightning eMotors (NYSE: ZEV) has partnered with All Aboard America! Holdings to deliver the largest battery electric double-decker motor coach.
Featuring a groundbreaking 640 kWh battery and an estimated range of over 200 miles, this all-electric vehicle aims to replace diesel buses.
Repurposing existing coaches is highlighted as a cost-effective and eco-friendly solution.
The electrification of diesel motor coaches aligns with the growing demand for zero-emission transportation, particularly in corporate and campus settings.
Lightning eMotors, Inc. (NYSE: ZEV) announced it will release its third quarter 2021 results after market close on November 15, 2021. A conference call will follow at 5:00 p.m. Eastern Time on the same day. Investors interested in the webcast can access it through the Company's Investor Relations website. The call will also be available via phone, with a replay option provided until November 29, 2021. Lightning eMotors specializes in sustainable fleet solutions, deploying zero emission vehicles for commercial fleets since 2018.
Lightning eMotors (NYSE: ZEV) has announced the delivery of ten all-electric cargo vans to Goodfood Market Corp., marking its entry into Canada’s commercial electric vehicle market. This partnership represents the first deployment of a fully electric refrigerated vehicle fleet in Canada. The vans, designed for last-mile delivery, have a range of 120 miles and include a refrigeration system powered by a 12-volt battery. Goodfood aims to enhance its grocery delivery services while reducing emissions. CEO Tim Reeser emphasizes the growth potential in the electric vehicle sector as demand for sustainable solutions rises.
Lightning eMotors (NYSE: ZEV) has announced an increase in orders for its all-electric Class 3 and Class 4 vehicles from California's public transit agencies. The orders are facilitated through the CalACT Vehicle Purchasing Cooperative, simplifying procurement for nearly 200 municipalities. Lightning's electric vehicles align with California’s mandate for carbon neutrality, making them a prime choice for government agencies. They have delivered 8 of the initially ordered 11 vehicles and expect more orders to close soon.
Lightning eMotors (NYSE: ZEV) announced the election of Kenneth Jack to its Board of Directors, effective October 7. Jack, vice president of fleet operations at Verizon, brings over 25 years of fleet and operations management experience. His expertise in customer insights and charging infrastructure will support Lightning eMotors in enhancing its offerings in fleet electrification. The board re-elected Chairman Robert Fenwick-Smith and CEO Tim Reeser. Jack's appointment aims to advance strategies for electric vehicle adoption and improve charging solutions for commercial customers.
Lightning eMotors (NYSE: ZEV) has formed a strategic partnership with Ricardo to deploy electric powertrains for commercial vehicles in the UK, which has over 700,000 operational commercial vehicles. Lightning will manufacture electric powertrains in Loveland, Colorado, while Ricardo will handle assembly and supply chain management in the UK. bp Ventures will provide fleet management expertise through bp Pulse. This collaboration aims to accelerate the adoption of commercial electric vehicles in the UK, capitalizing on high fuel prices and increasing demand for zero-emission vehicles.
REV Group (NYSE: REVG) and Lightning eMotors (NYSE: ZEV) have partnered to manufacture and deploy over 100 all-electric Type A school buses across the U.S. and Canada. This collaboration includes an initial order worth approximately $11 million over the next two years, with Lightning providing electric powertrains and charging infrastructure. The buses will feature advanced battery technology and V2G capabilities. Demand for zero-emission school buses is rising significantly, aided by upcoming infrastructure funding that includes $7.5 billion for electric vehicle charging.
Lightning eMotors (NYSE: ZEV) and Collins Bus, a subsidiary of REV Group (NYSE: REVG), have announced a partnership to manufacture over 100 all-electric Type A school buses for deployment across the U.S. and Canada. The deal includes an initial firm order worth approximately $11 million over the next two years, with Lightning providing powertrains and charging infrastructure. The school buses will feature advanced battery technology and capabilities, supporting both Level 2 AC and Level 3 DC Fast Charging. Production is underway, with deliveries expected this fall.
