Lightning eMotors signs deal with school-bus manufacturer
LOVELAND — Lightning eMotors Inc. (NYSE: ZEV), the Loveland-based electric-vehicle manufacturer, has signed an agreement with Collins Bus Corp., a manufacturer of Type A school buses and a subsidiary of REV Group Inc. (NYSE: REVG), to manufacture and deploy zero-emission, all-electric school buses.
Collins Bus has deployed more than 70,000 buses over the past 50 years across the United States and Canada. About 100 buses will be deployed through the Lightning agreement and is worth about $11 million over the next two years, the company said.
“School districts across the U.S. and Canada are eager to introduce zero-emission electric buses,” Brian Perry, president of REV’s commercial segment, said in a written statement. “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.”
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The buses each will have a gross vehicle weight of 14,500 pounds and will feature NMC batteries using battery thermal management and safety systems. The buses will support both Level 2 AC charging and Level 3 DC fast charging, with integrated vehicle-to-grid capabilities. Other features will include a digital-dash display, hill-hold functionality for safety, advanced telematics, analytics, and a mobile app for drivers and fleet managers.
“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. Collins’ leadership will be a strong catalyst for the market to move to all electric.”
Kash Sethi, chief revenue officer for Lightning, said electrifying school buses makes sense for the company as well as school districts.
“The environmental and health benefits were always a no brainer. With predictable routes, dedicated overnight parking at school bus depots, fuel and maintenance savings, all-electric school buses now make a lot of operational and financial sense as well,” Sethi said.
The first batch of all-electric Collins school buses is in production, with buses expected to be delivered to dealerships and school districts this fall. Lightning eMotors reported $5.9 million in revenue, a record for the company, in its first quarter as a public company.