LOVELAND, Colo.--(BUSINESS WIRE)--Lightning eMotors (NYSE: ZEV), a leading provider of zero emissions medium duty commercial vehicles and electric vehicle technology, is giving gasoline and diesel vehicles a second, zero-emissions life by repowering a variety of passenger transit vehicles for shuttle service providers to some of the leading tech companies located throughout Silicon Valley.
The all-electric vehicles include Class 3 passenger vans and Class 7 motorcoaches, all of which are either in service already or soon to be in service with several of the largest tech companies in the world and largest employers in the Bay Area.
As the Bay Area’s top employers continue to reduce or eliminate remote or hybrid work options following the COVID-19 pandemic, and as fuel prices continue to surge, Lightning’s repowered vehicles are being used to provide zero-emission intra-campus and Park and Ride transportation for thousands of employees in the region. In addition to reducing traffic congestion, fuel costs and tailpipe emissions, the vehicles will support increased productivity among the employees who utilize the service by providing a safe, quiet atmosphere during the time spent commuting to and from work.
“We are encouraged by an acceleration in the adoption of repowered vehicles, not only by these Bay Area powerhouses, but by private and public sector businesses and universities across the country,” said Lightning eMotors CEO Tim Reeser. “Industries are realizing that repowering existing vehicles with our electric drive system is a highly cost-effective way to lower emissions. And though some companies are looking at converting electric cargo vans to passenger vans, they don’t provide the range, payload capacity or safety features of a Lightning repowered Transit.”
The repowered vehicles are also equipped with Lightning’s integrated advanced telematics system, which allows up to 100 parameters of vehicle performance to be tracked in near-real-time to optimize route planning, increase cost-savings and assist with day-to-day operations. The analytics can also be used to inform monthly Environmental, Sustainability and Governance (ESG) reports that can help employers utilizing the repowered vehicles stay on track of their sustainability goals.
Lightning’s repowered vehicle orders were facilitated by ABC Companies, a leading product and service provider to the transportation industry. ABC partnered with Lightning eMotors after conducting a global search for a powertrain provider with the scope, scale, experience, and expertise to provide new and repowered zero-emission vehicles as well as charging solutions for large corporate and municipal customers.
“We’re seeing a significant uptick in interest in these vehicles as the world comes back from COVID, and return-to-work life is accelerating,” ABC Companies president and CCO Roman Cornell said. “Our previous work with Lightning eMotors provides insight that these repowered vehicles will not only surpass customer expectations, but also have the capability to spark a trend in and beyond the Bay Area as companies across the nation continue to seek out new sustainable solutions.”
“Repowering commercial vehicles from gas or diesel to all-electric is a great option during these times of rapidly rising new vehicle prices resulting from supply chain constraints,” said Kash Sethi, chief revenue officer for Lightning. “Lightning is one of the only companies today that has the capability to repower older vehicles, electrify new vehicles, and simultaneously develop our own eChassis for release in 2023. This kind of innovation and flexibility is what makes Lightning an undisputed leader in this fast-growing market.”
About Lightning eMotors
Lightning eMotors (NYSE: ZEV), based in Loveland, Colorado, 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, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city 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 including school buses and ambulances, 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. Lightning eMotors also offers charging technologies and “charging as a service” (CaaS) to commercial and government fleets under its Lightning Energy brand. To learn more, visit https://lightningemotors.com.
About ABC Companies
ABC Companies is a leading provider to the transportation industry with diverse product and service offerings that cover a full spectrum of operational needs including new and pre-owned full-size highway coach equipment along with transit and specialty vehicles including battery electric vehicles. ABC supports customers with a comprehensive after sale service network for service and repairs, collision services, extensive OEM and quality aftermarket parts needs for transit, motorcoach and heavy-duty equipment from strategically placed locations throughout the United States and Canada. Additionally, private and municipal financing and leasing options are available through the company’s financial services group – one of the largest financial service providers within the industry. For more information, contact ABC Companies at 800-222-2875 or visit the company web site at https://www.abc-companies.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include but are not limited to expected changes to corporate adoption of repowered vehicles and Lightning eMotors’ expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future business plans. 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 does 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) those related to Lightning eMotors’ operations and business and financial performance; (ii) the ability of Lightning eMotors to execute on its business strategy and grow demand for its products and revenue; (iii) the potential increases in costs or shortage of materials required to develop and manufacture Lightning eMotors’ products; (iv) the potential severity, magnitude and duration of the COVID-19 pandemic as it affects the business operations, global supply chains, financial results and position of Lightning eMotors and on the U.S. and global economy; (v) current market conditions and federal, state, and local laws, regulations and government incentives, particularly those related to the commercial electric vehicle market; (vi) the size and growth of the markets in which Lightning eMotors operates; (vii) the mix of products utilized by Lightning eMotors’ customers and such customers’ needs for these products; (viii) market acceptance of new product offerings and whether this will be a catalyst for others to purchase electric vehicles and (ix) the rate at which customers deploy its electric vehicle. These and other risks are described more fully in Lightning eMotors’ filings with the Securities and Exchange Commission and other documents that it subsequently files with the SEC from time to time. Moreover, Lightning eMotors operates 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. Lightning eMotors undertakes 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.
