Lightning eMotors delivering on contracts, enters Canada

LOVELAND — Lightning eMotors Inc. (NYSE: ZEV) is delivering on contracts in California and Canada.

According to a press statement, five California public transit agencies received eight zero-emission vans and buses on Tuesday. Three more are arriving by year-end. Orders for five more vehicles from new buyers are expected next month.

Agencies buy through a purchasing cooperative with 200 municipal members. State regulations adopted in 2018 give public agencies until 2029 to make new buying all-electric. Fleets must be fully electric by 2040.

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On Thursday, Lightning eMotors said Quebec-based Goodfood Market Corp. (TSX: FOOD) received 10 all-electric cargo vans. This is Lightning’s first deal and delivery of vehicles in Canada.

“We see tremendous potential for growth” in the new market, said CEO Tim Reeser.

Goodfood delivers groceries and ready-to-eat cooked and prepared meals ordered online. It has $383 million in trailing 12 months’ revenue, up 35% over its last full year, and a $468 million market cap.

Lightning eMotors makes electric drivetrains and fleet vehicles.

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