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Thursday, June 30, 2022

Lightning eMotors [NYSE: ZEV] Sign Multi-Year Agreement with Forest River Inc

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Lightning eMotors, Inc. [NYSE: ZEV] has inked a multi-year agreement with Forest River Inc. Both the firms have inked the strategic partnership agreement to install more than 500 zero-emission shuttle buses. The deal has a projected value of more than $850 million. It suggests that Lightning eMotors construct fully electric powertrains. It offers charging products, and services for Forest River over the next four and a half years.

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Lightning eMotors believe that this agreement will become the largest contract ever in the electric shuttle bus market. The firm considers that it will be the incentive for other large commercial vehicle OEMs and fleets to hasten their implementation of commercial electric vehicles.

Furthermore, Lightning eMotors will make the zero-emission-vehicle (ZEV) powertrain systems at their 231,000 square foot facility in Loveland, Colorado. The firm then dispatches the powertrains to Forest River’s factory in Goshen, Indiana, for the final assembly of Class 4 and 5 all-electric passenger buses.

Moreover, the zero-emissions vehicles that Forest River and Lightning eMotors will co-produce are Class 4 and 5 shuttle buses. These buses have gross vehicle weight ratings varying from 14,500 to 19,500 pounds. In addition to this, the Elkhart, Indiana-based firm has intended to contribute 100,000 square feet to install Lightning eMotors powertrains.

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