Proterra to supply battery technology for up to 10,000 Lightning eMotors electric commercial vehicles

Rhea-AI Summary

Proterra Inc (NASDAQ: PTRA) has expanded its partnership with Lightning eMotors through a new multi-year supply agreement to provide battery systems for Class 4 and Class 5 electric commercial vehicles. The contract entails supplying over 900 megawatt hours of battery capacity, enabling the production of up to 10,000 vehicles between 2022 and 2025. This expansion includes supporting Lightning eMotors' partnership with Forest River for zero-emission shuttle buses and builds upon previous collaborations for Class 3 electric vans.

Positive

• New multi-year supply agreement to provide over 900 MWh of battery systems.
• Potential production of up to 10,000 electric commercial vehicles between 2022-2025.
• Expansion includes strategic partnership with Forest River for zero-emission shuttle buses.

Negative

• None.

• Proterra and Lightning eMotors expand partnership to power Class 3 through Class 5 commercial electric vehicles using Proterra battery technology
• Expansion of multi-year supply agreement includes battery supply for Lightning eMotors’s strategic partnership with Forest River for Class 4 and 5 zero-emission shuttle buses

BURLINGAME, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial vehicle electrification technology, today announced an expansion of its partnership with Lightning eMotors to power their Class 4 and Class 5 electric commercial vehicles with Proterra’s industry-leading battery technology. Under a new multi-year supply agreement, Proterra contracted to supply battery systems totaling more than 900 megawatt hours in battery storage capacity to Lightning eMotors to power up to 10,000 electric commercial vehicles between 2022 and 2025.

This includes supplying Lightning eMotors with Proterra H Series battery systems for its strategic partnership with Forest River to co-produce and deploy Class 4 and Class 5 zero-emission, battery-electric shuttle buses.

The expansion builds on Proterra’s previously announced collaboration with Lightning eMotors to power the Class 3 Lightning Electric Transit commercial van using Proterra battery technology. Proterra will now also supply its battery technology to Lightning eMotors for the Lightning Electric E-450 and Lightning Electric F-550 electric commercial vehicles.

“We are delighted to build on our relationship with Lightning eMotors and to extend our battery technology into a greater number of electric commercial vehicles, including delivery trucks, work trucks, shuttle buses, and more,” said Chris Bailey, President of Proterra Powered & Energy. “Together with Lightning eMotors, we’re demonstrating how American technology and manufacturing can lead the way towards a future driven by zero-emission, battery-electric commercial vehicles.”

“We are thrilled to be expanding our relationship with Proterra to power our class 4 and 5 platforms,” said Chelsea Ramm, Vice President of Global Supply Chain at Lightning eMotors. “Proterra battery packs are rightfully perceived by the market as a quality product which gives us both peace of mind for our customers and helps us during the sales process.”

The Lightning Electric Transit van is a purpose-built Class 3 commercial electric vehicle that is available in several popular configurations including last-mile cargo vans, passenger vans, ambulances, school buses, and work vans.

The Lightning Electric E-450 and F-550 commercial electric vehicles are available in a shuttle bus configuration utilizing the various Forest River bus body options, and as a truck including middle mile/last mile delivery trucks, ambulances, and work trucks. Both platforms are planned to have 80kWh-160kWh of Proterra battery packs.

Designed and manufactured in the United States, Proterra battery systems leverages industry-leading energy density and a customizable design to fit within a variety of vehicles. Proterra’s best-in-class battery systems have been proven through more than 20 million service miles driven by Proterra transit vehicles and selected by world-class commercial vehicle manufacturers to power construction equipment, delivery trucks, school buses, coach buses, and low-floor cutaway shuttles.

About Proterra
Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. With industry-leading durability and energy efficiency based on rigorous U.S. independent testing, Proterra products are proudly designed, engineered, and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles. For more information, please visit www.proterra.com

Investor Contact
Proterra Investor Relations
IR@proterra.com 

Media Contact
Proterra Corporate Communications
PR@proterra.com

Photos accompanying this announcement are available at:

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https://www.globenewswire.com/NewsRoom/AttachmentNg/1ab9d8bb-a3e7-4a02-a4f7-faa71c77e575

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FAQ

What is the new supply agreement between Proterra and Lightning eMotors about?

Proterra has expanded its supply agreement with Lightning eMotors to provide over 900 megawatt hours of battery systems for Class 4 and Class 5 electric commercial vehicles.

How many electric commercial vehicles will Proterra supply batteries for?

Proterra's new agreement allows for the production of up to 10,000 electric commercial vehicles between 2022 and 2025.

What type of vehicles will use Proterra's battery technology?

Proterra's battery technology will be used in Lightning eMotors' Class 3, Class 4, and Class 5 electric commercial vehicles.

What is the significance of the partnership with Forest River?

The partnership with Forest River involves co-producing and deploying zero-emission, battery-electric shuttle buses using Proterra's battery systems.