- Lightning eMotors and GM to collaborate on the development of
zero tailpipe emission battery-electric trucks for medium-duty
commercial fleet customers
- Lightning eMotors to build all-electric medium-duty commercial
vehicles on popular GM platforms
Lightning eMotors (NYSE: ZEV), a leading provider of zero
emissions medium duty commercial vehicles and electric vehicle
technology for fleets, has reached an agreement with General Motors
to be the first GM Specialty Vehicle Manufacturer (SVM) to provide
fully electric Class 3 through Class 6 commercial vehicles.
This press release features multimedia. View
the full release here:
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Example upfit model shown by Forest River
of GM chassis electrified by Lightning eMotors. Final product is
not produced by GM and will vary. GM is not responsible for the
safety or quality of design features, materials or workmanship of
any alterations by any such supplier. Availability to be determined
at a later date. (Photo: Forest River Bus)
Under the agreement, Lightning eMotors will electrify popular
medium duty truck platforms provided by General Motors, which can
be used for several vehicle applications like school buses, shuttle
buses, delivery trucks, work trucks and more.
General Motors Fleet provides a variety of platforms which are
designed for qualified Specialty Vehicle Manufacturing customers to
upfit vehicles across a broad range of industries and
applications.
“We are thrilled that GM is working with Lightning eMotors to
make GM’s medium duty truck platform the basis for new electric
vehicles,” said Lightning eMotors’ CEO and co-founder Tim Reeser.
“GM’s inclusive approach to electrification is a great match for
Lightning’s position and role as a leading powertrain supplier in
the commercial vehicle space. Commercial vehicles and commercial
vehicle powertrains are complex, with thousands of unique
components, requiring years of custom software development and
on-road testing—and Lightning has products in fleet use today and
ready for customers to roll out this year.”
Lightning has developed a flexible manufacturing approach that
provides scalable and cost-effective electrification for
medium-duty specialty vehicles1 such as utility trucks, school
buses, and ambulances. Electrifying these vehicles results in large
operating cost savings, better performance, and zero tailpipe
emissions. Lightning eMotors has seen dramatic growth in orders
over the last three years from its customers.
“GM has a long history in commercial vehicle markets,” said
Lightning eMotors’ chief revenue officer Kash Sethi. “Lightning’s
products are purpose-fit for these vehicles, classes and
applications, allowing us to move quickly to support our medium
duty truck and bus partners and customers.”
Lightning eMotors will electrify certain GM platforms at its
manufacturing campus2 in Loveland, Colorado. Completed chassis will
be shipped to commercial vehicle manufacturers.
“GM has provided chassis to commercial vehicle upfitters and
fleets for many years, so to now offer electrified versions of
these vehicles with Lightning’s powertrains demonstrates our joint
vision towards an electrified future that is putting vehicles on
the road today,” said Reeser. “We are at the forefront of specialty
vehicle fleet electrification.”
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 – including Class 3 cargo and
passenger vans, ambulances, Class 4 and 5 cargo vans and shuttle
buses, Class 4 Type A school buses, Class 6 work trucks, Class 7
city buses, and Class A 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 This press release contains
forward-looking statements within the meaning of U.S. federal
securities laws. Such forward-looking statements include, but are
not limited to, statements regarding the anticipated relationship
with GM, the expected volumes Lightning eMotors can produce,
whether the agreement will further Lightning’s ability to meet its
customers’ expectations, the expected ability to increase
production capacity, the expected increase in sales, and its
expectations, hopes, beliefs, intentions, plans, prospects or
strategies regarding the future business plans of Lightning eMotors
and Lightning eMotors’ ability to meet initially and continue to
meet during the life of the agreement all requirements and
qualifications necessary for certification by GM, and the number of
vehicles that may be electrified under the agreement with GM. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In addition,
any statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
do not mean that a statement is not forward-looking. The
forward-looking statements contained in this press release are
based on certain assumptions and analyses made by the management of
Lightning eMotors in light of their respective experience and
perception of historical trends, current conditions and expected
future developments and their potential effects on Lightning
eMotors as well as other factors they believe are appropriate in
the circumstances. There can be no assurance that future
developments affecting Lightning eMotors will be those anticipated.
These forward-looking statements contained in this press release
are subject to known and unknown risks, uncertainties, assumptions
and other factors that may cause actual results or outcomes to be
materially different from any future results or outcomes expressed
or implied by the forward-looking statements. These risks,
uncertainties, assumptions and other factors include, but are not
limited to: (i) the actual number of vehicles received from GM
under our agreement and their successful integration into our
products, (ii) those related to our operations and business and
financial performance; (iii) our ability to execute on our business
strategy and grow demand for our products and our revenue; (iv) our
ability to maintain the supply of necessary components from
third-party suppliers; (v) the potential severity, magnitude and
duration of the COVID-19 pandemic as it affects our business
operations, global supply chains, financial results and position
and on the U.S. and global economy; (vi) current market conditions
and federal, state, and local laws, regulations and government
incentives, particularly those related to the commercial electric
vehicle market; (vii) the size and growth of the markets in which
we operate; (viii) the mix of products utilized by our customers
and such customers’ needs for these products; and (ix) market
acceptance of new product offerings and whether this will be a
catalyst for others to purchase electric vehicles. Moreover, we
operate in a competitive and rapidly changing environment, and new
risks may emerge 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. Should one or more of these risks or
uncertainties materialize or should any of the assumptions being
made prove incorrect, actual results may vary in material respects
from those projected in these forward-looking statements. We
undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
1
Vehicles with equipment from an
independent supplier are not covered by the GM New Vehicle
Warranty. GM is not responsible for the safety or quality of
independent supplier alterations.
2
Of domestic and globally sourced
parts.
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version on businesswire.com: https://www.businesswire.com/news/home/20220202005236/en/
Lightning eMotors’ News Media Contact: Nick Bettis (800)
223-0740 pressrelations@lightningemotors.com Lightning eMotors’
Investor Relations: Brian Smith (503) 781-3472
Investorrelations@lightningemotors.com
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