Lightning EMotors, Ricardo Partner To Provide Commercial EVs To UK Customers

  • Ricardo and Lightning EMotors Inc ZEV have entered into a strategic partnership agreement to deploy vehicles in the U.K.
  • Under the agreement Lightning EMotors will build fully electric powertrains at their 231,000 square foot facility in Loveland, Colorado, for shipment to the U.K. 
  • Ricardo will assemble and integrate those powertrains into medium-duty commercial fleet vehicles at one of its manufacturing facilities in the U.K.
  • "The UK market is especially well-suited for commercial vehicle electrification because the return on investment for fleets is so fast," said Tim Reeser, CEO of Lightning EMotors.
  • BP PLC's BP bp Ventures, Lightning's largest investor, will provide fleet management expertise through bp Pulse, an electric vehicle charging company in the U.K.
  • Price Action: ZEV shares are trading higher by 1.32% at $8.44 on the last check Tuesday.
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