- Lightning eMotors Inc (NYSE:ZEV) has agreed with General Motors Co (NYSE:GM) to be the first GM Specialty Vehicle Manufacturer (SVM) to provide fully electric Class 3 through Class 6 commercial vehicles. Deal terms not disclosed.
- Lightning eMotors will electrify popular medium-duty truck platforms provided by GM, which can be used for several vehicle applications.
- Lightning eMotors has developed a flexible manufacturing approach that provides scalable, and cost-effective electrification for medium-duty specialty vehicles resulting in large operating cost savings, better performance, and zero tailpipe emissions.
- Lightning eMotors will electrify GM platforms at its manufacturing campus in Loveland, Colorado, and the completed chassis will be shipped to commercial vehicle manufacturers.
- Price Action: ZEV shares are trading higher by 4.37% at $4.54, and GM lower by 1.79% at $52.54 during the premarket session on Thursday.
