Lightning eMotors Announces Deployments and Production Ramp up of Electric School Buses Built on the GM-Based Lightning ZEV4™ Platform
02 Maggio 2023 - 2:00PM
Business Wire
- Lightning is actively rolling out electric school buses that
are expected to benefit from federal and state funding
- Next generation ZEV4 School Bus on the GM chassis features 120
kWh batteries
- To date, deployed Lightning-powered vehicles have accumulated
over 4 million zero-emission real-world miles in a variety of
applications including school buses, shuttle buses, passenger vans,
cargo vans and ambulances
Lightning eMotors (NYSE: ZEV), a leading provider of
zero-emission, medium-duty commercial vehicles and electric vehicle
(EV) technology for fleets, has begun production of a next
generation Type A electric school bus built on the GM platform.
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Production of Lightning ZEV4 Type A
electric school buses is ramping up in Lightning’s Loveland, CO
factory to address the electric school bus market that is being
accelerated by major federal and state funding programs. (Photo:
Lightning eMotors)
Initial orders for nearly 70 next generation Type A school buses
have begun moving across the production floor in Lightning eMotors’
130,000 square foot manufacturing facility in Loveland, Colorado.
Purchased by over 20 school districts across the U.S., many of
these zero-emission, all electric buses are leveraging state
funding and/or the EPA’s Clean School Bus Program, which is
providing school districts with $5 billion between 2022 and 2026 to
incentivize the electrification of school buses. These funds can be
stacked with the IRA commercial vehicle incentive, which gives
schools $40,000 per electric vehicle, providing schools with
electric school buses without the need for special budget
referendums or increasing taxes. These districts are among more
than 650 school districts from around the country that have
committed to electrifying their fleets.
“Thanks to federal EPA and IRA funding, as well as an increasing
number of state-level initiatives, clean school transportation is
now truly a nationwide phenomenon,” said Kash Sethi, chief revenue
officer for Lightning eMotors. “We’re actively supporting school
districts nationally to leverage this opportunity and, as a result,
we’re ramping up production and rolling out school buses in
communities across the country and are expecting an active sales
pipeline.”
Lightning is producing electric school buses on its next
generation Lightning ZEV4™, built on the versatile GM 4500
platform. All Lightning ZEV4 models come equipped with 120 kWh
batteries packaged safely between the frame rails. Each powertrain
delivers 241 horsepower, 790 lb-ft of torque and a range of up to
130 miles. The ZEV4 is also capable of both Level 2 AC and 80 kW DC
fast charging, and is V2G compatible.
“We’ve come a long way since first announcing our collaboration
with GM last year to electrify GM-based class 3-6 vehicles for
commercial applications, including our ZEV4 school buses,” said
Lightning eMotors CEO Tim Reeser. “Working with partners like GM to
ramp up production and roll out electric school buses across the
U.S. is just another example of how we are leading in commercial
vehicle electrification, with more medium-duty electric vehicles on
the road than anyone else.”
In addition to the financial benefits related to state- and
federal-level funding initiatives like the Inflation Reduction Act
and the EPA’s Clean School Bus Program, there are major
environmental and health benefits associated with reduced tailpipe
emissions. Current economic realities also make electric school
buses more appealing than ever. At a time when interest rates, fuel
prices and the costs of parts and labor for repairs are at all-time
highs, electric buses use no fossil fuels and require less
maintenance, thereby reducing total cost of ownership when
replacing aging diesel buses or adding new buses to school bus
fleets.
With more than 600 electric vehicles deployed overall, Lightning
eMotors has accelerated the deployment of commercial electric
vehicles by providing proven technology, best-in-class reliability,
end-to-end EV services, and world class support that simplifies
fleet electrification. To date, Lightning vehicles have surpassed 4
million total real-world miles, mitigating nearly 5.5 million
pounds of on-road C02 emissions.
To learn how to electrify your fleet with Lightning eMotors,
please visit lightningemotors.com.
About Lightning eMotors
Lightning eMotors (NYSE: ZEV) has been providing specialized and
sustainable fleet solutions since 2009, deploying complete
zero-emission-vehicle (ZEV) solutions for commercial fleets since
2018. In that time, we have deployed a variety of vehicle classes
and applications including but not limited to cargo and passenger
vans, ambulances, transit and shuttle buses, school buses,
specialty work trucks, and electric powertrains for school buses,
transit buses and motor coaches. The Lightning eMotors team
designs, engineers, customizes, and manufactures zero-emission
vehicles to support the wide array of fleet customer needs with a
full suite of control software, telematics, analytics, and charging
solutions to simplify the buying and ownership experience and
maximize uptime and energy efficiency. To learn more, visit our
website at https://lightningemotors.com.
Forward-Looking Statements
Except for historical information herein, matters set forth in
this press release are forward-looking within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, including statements about the commercial and
technology progress and future financial performance of Lightning
eMotors, Inc. These forward-looking statements are identified by
the use of words such as “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “expand,” “enable,” “might,”
“potential,” “should,” “would” among others. Forward-looking
statements in this press release are subject to certain risks and
uncertainties inherent in the company’s business that could cause
actual results or outcomes to vary, including, but not limited to,
risks related to Lightning eMotors’ operations and business and
financial performance; the ability of Lightning eMotors to execute
on its business strategy and grow demand for its products and
revenue; potential increases in costs or shortage of raw materials;
market acceptance of new product offerings; and other risks more
fully described in Lightning eMotors’ filings with the Securities
and Exchange Commission from time to time. You should not put undue
reliance on any forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by, which such performance or results will be
achieved, if at all. Lightning eMotors undertakes no obligation to
update any forward-looking statements, except as required by
law.
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Lightning eMotors’ News Media Contact: Nick Bettis (800)
223-0740 pressrelations@lightningemotors.com
Lightning eMotors’ Investor Relations: Brian Smith (800)
223-0740 investorrelations@lightningemotors.com
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