Lightning Emotors, REV Group Stock Gains On Multiyear Agreement For Type A School Buses
- REV Group, Inc. (NYSE: REVG) subsidiary Collins Bus and Lightning Emotors Inc (NYSE: ZEV) have entered into a strategic partnership to manufacture and deploy zero-emission, all-electric Type A school buses.
- Lightning and Collins expect to deploy over 100 all-electric Type A school buses across U.S. and Canada over the next few years.
- The agreement includes an initial firm order commitment worth ~$11 million over the next two years.
- Lightning to provide all-electric powertrains including installation, and charging infrastructure products and services.
- The buses will support Level 2 AC charging and Level 3 DC Fast Charging, with integrated vehicle-to-grid (V2G) capabilities.
- The first batch of all-electric Collins school buses leveraging Lightning's EV technology is already in production, with buses expected to be delivered to dealerships and school districts this fall.
- Price Action: REVG shares are trading higher by 1.18% at $16.31 and ZEV higher by 16.40% at $10.08 on the last check Tuesday.
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