Lightning eMotors All-Electric Fleet Crosses 1 Million Mile Benchmark

Rhea-AI Summary

Lightning eMotors (NYSE: ZEV) announced a significant milestone with its customer fleets surpassing one million all-electric miles driven. This achievement reflects real-world, zero-emission vehicle use across various platforms in the US and Canada. The company has logged over 25,000 miles per month with its growing zero-emission fleet, accumulating over four million miles when including its previous low-emission powertrains. This milestone demonstrates the increasing adoption of electric vehicles in commercial applications.

Positive

• Surpassed one million all-electric miles driven by customer fleets.
• Fleet logging over 25,000 miles per month, indicating growth.
• Prevented approximately 900 tons of CO2 emissions by removing internal combustion vehicle miles.

Negative

• None.

• Million-mile all-electric milestone based on customer-driven miles driven on customer-owned vehicles
• Miles logged throughout the US and Canada on nine different vehicle platforms
• Milestone includes only real-world, 100% zero-emission vehicle (ZEV) miles
• Lightning’s growing ZEV fleet logging miles at a rate of over 25,000 miles per month, expected to accelerate

LOVELAND, Colo.--(BUSINESS WIRE)-- Lightning eMotors (NYSE: ZEV), a leading provider of medium-duty and specialty commercial electric vehicles for fleets, today announced that its customer fleets have surpassed one million miles driven. The million-mile milestone represents Lightning’s on-road, fully electric, customer-owned and operated fleet vehicles. When Lightning’s former low-emission powertrains are included, the company’s customer-owned and operated fleets have driven more than four million miles.

Lightning eMotors' customers have racked up over 1,000,000 all-electric miles and counting (Image: Lightning eMotors)

The one million all-electric miles were logged on roads and highways across the United States and Canada on nine different vehicle platforms ranging from Class 3 through Class 7, and six different vertical market applications such as ambulances, cargo vans, delivery trucks, school buses, shuttle buses and transit buses. Lightning eMotors is currently accumulating zero-emission miles at over 25,000 miles per month. As Lightning accelerates its delivery of additional zero-emission vehicles, that rate will continue to rise. The single Lightning vehicle with the most road time now has over 54,000 all-electric miles.

By removing one million internal combustion vehicle miles from the road, Lightning eMotors has prevented approximately 900 tons of CO₂ from being emitted into the atmosphere.

“Lighting has been putting zero-emission commercial vehicles on the road for over four years,” said Nick Bettis, director of marketing and sales operations. “We see this acceleration in fleet miles accumulation as the ultimate customer validation.”

Real-time mileage data was collected via the Lightning eMotors Telematics and Analytics system that is integrated with all Lightning vehicles and powertrains.

“It's important to note that this milestone was reached using only real-world data from zero emission all-electric vehicles,” Kash Sethi, chief revenue officer for Lightning eMotors said. “Many alternative fuel manufacturers who are only now pivoting to all-electric include hybrid or CNG miles in their marketing claims, and most also include dynamometer-simulated miles that don’t take into account on-road and seasonal driving conditions. That makes a big difference when it comes to evaluating how a vehicle is really performing. When you buy a zero-emission vehicle from Lightning eMotors, you can be assured it has been put through its paces.”

About Lightning eMotors:

Lightning eMotors (NYSE: ZEV) has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, ambulances, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city buses, and Class A motor coaches. The Lightning eMotors team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs with a full suite of control software, telematics, analytics, and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. To learn more, visit our website at https://lightningemotors.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include, but are not limited to, potential future vehicle deployments, potential future fleet mileage accumulations and Lightning eMotors’ expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future business plans. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of Lightning eMotors in light of their respective experience and perception of historical trends, current conditions and expected future developments and their potential effects on Lightning eMotors as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Lightning eMotors will be those anticipated. These forward-looking statements contained in this press release are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and other factors include, but are not limited to: (i) those related to Lightning eMotors’ operations and business and financial performance; (ii) the ability of Lightning eMotors to execute on its business strategy and grow demand for its products and revenue; (iii) the potential increases in costs or shortage of materials required to develop and manufacture the eChassis; (iv) the potential severity, magnitude and duration of the COVID-19 pandemic as it affects the business operations, global supply chains, financial results and position of Lightning eMotors and on the U.S. and global economy; (v) current market conditions and federal, state, and local laws, regulations and government incentives, particularly those related to the commercial electric vehicle market; (vi) the size and growth of the markets in which Lightning eMotors operates; (vii) the mix of products utilized by Lightning eMotors’ customers and such customers’ needs for these products; (viii) market acceptance of new product offerings and whether this will be a catalyst for others to purchase electric vehicles and (ix) the rate at which customers deploy our electric vehicle. These and other risks are described more fully in Lightning eMotors’ filings with the Securities and Exchange Commission and other documents that it subsequently files with the SEC from time to time. Moreover, Lightning eMotors operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Lightning eMotors undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005224/en/

Lightning eMotors’ News Media Contact:

Nick Bettis

(800) 223-0740

pressrelations@lightningemotors.com

Source: Lightning eMotors

FAQ

What milestone did Lightning eMotors achieve recently?

Lightning eMotors announced that its customer fleets have surpassed one million all-electric miles driven.

How many miles is Lightning eMotors logging monthly?

Lightning eMotors is currently logging over 25,000 miles per month with its zero-emission fleet.

What vehicles contributed to the one million miles milestone?

The million miles were logged on nine different vehicle platforms ranging from Class 3 to Class 7, including ambulances, delivery trucks, and school buses.

How does Lightning eMotors' mileage data collection work?

Mileage data is collected in real-time using the Lightning eMotors Telematics and Analytics system integrated with all vehicles.

What impact did this milestone have on CO2 emissions?

Lightning eMotors' milestone has prevented approximately 900 tons of CO2 emissions from being released into the atmosphere.