Lightning Emotors Inc. (NASDAQ: ZEV) stock gained by 2.07% at last close while the ZEV stock price surges by 58.23% in the pre-market trading session. Since 2009, Lightning eMotors has provided specialized and long-term fleet solutions, including comprehensive ZEV solutions for commercial fleets.
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Lightning eMotors and Forest River, which is owned by Berkshire Hathaway, have announced a major collaboration to introduce up to 7,500 zero-emission shuttle buses.
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Lightning eMotors will manufacture completely electric powertrains and supply charging goods & services for Forest River in the next four and a half years, with a worth of up to $850 million. Lightning eMotors’ 231,000-square-foot plant in Loveland, Colorado, will produce the zero-emission car powertrain systems. They’ll also deliver the powertrains to Forest River’s Goshen facility for finished products of Class 4 and 5 all-electric passenger buses.
Having eight manufacturing buildings and over 500,000 square feet of production area, Forest River is the top shuttle bus manufacturer in North America. Lightning eMotors’ powertrains will be installed in 100,000 square feet at the Elkhart, Indiana-based firm.
Class 4 and 5 shuttle buses with net vehicle weight ratings between 14,500 to 19,500 pounds will be co-produced by Forest River and Lightning eMotors. The buses will employ industry-leading battery thermal management systems with battery packs ranging from 80kWh to more than 160kWh. These cars have ranges of 80 to 160 miles on a single charge and can be recharged in under an hour utilizing Lightning eMotors’ DC rapid charging infrastructure with integrated vehicle-to-grid (V2G) capabilities.
There will be 12 to 33 passenger seats available, with ADA choices, and bus lengths ranging from 20 to 34 feet. A contemporary digital dash display, hill-hold capabilities for safety, advanced telematics, analytics, and a mobile app for drivers and fleet management are among the other characteristics. The Federal Transit Administration’s “Buy America” and the Federal Aviation Administration’s “Buy American” standards will apply to all vehicles.