Lightning eMotors (ZEV) Jumps After Entering Electric Bus Market with Collins Bus Partnership
Lightning eMotors (NYSE: ZEV) gained nearly 7% in early trading Tuesday after the company announced that they have entered into a strategic partnership with Collins Bus, a subsidiary of REV Group (NYSE: REVG), to manufacture zero-emission, all-electric Type A school buses.
The school buses will each weigh around 14,500 pounds and will feature state-of-the-art NMC batteries using industry-leading battery thermal management and safety systems. Along with both Level 2 AC charging and Level 3 DC Fast Charging, Other features will include a modern digital-dash display, hill-hold functionality for safety, advanced telematics, analytics, and a mobile app for drivers and fleet managers.
“School districts across the U.S. and Canada are eager to introduce zero-emission electric buses,” said Brian Perry, president, REV Commercial Segment. “In addition to being clean, green, and sustainable, electric school buses are quiet, efficient, and much less expensive to maintain. We’re pleased to be working with Lightning eMotors to provide districts with the all-electric buses their students, drivers, and communities want.”
“Collins has decades of bus manufacturing experience and is a long-standing leader in Class A school buses, with a well-established and loyal dealer network and customer base,” said Tim Reeser, CEO of Lightning eMotors. “We are thrilled that they have selected us to be their EV technology partner. There are nearly half a million school buses in the U.S., that are sitting at peak electric times available to put energy back on the grid, making student transportation a key part in reducing air pollution and greenhouse gas emissions (GHG). We believe Collins’ leadership can be a strong catalyst for the market to move to all electric. Together, we are ready to bring zero-emission school buses to a neighborhood near you.”
The first batch of all-electric Collins school buses leveraging Lightning’s EV technology is already in production, with buses expected to be delivered to dealerships and school districts this fall.
By Michael Elkins | [email protected]