Lightning eMotors Develops Largest Battery All-Electric Double-Decker Motor Coach Available

• Lightning eMotors to deploy massive people mover for All Aboard America! Holdings
• Double decker bus powered by an unprecedented 640 kWh battery capacity and an estimated 200+ mile range
• Repowering existing double decker coaches seen as cost-effective, eco-friendly solution compared with a new purchase
• All-electric motor coaches becoming go-to-choice for corporate campus, university and stadium transportation

Lightning eMotors (NYSE: ZEV), a leading provider of all-electric powertrains and medium-duty and specialty commercial electric fleet vehicles, and ABC Companies, a leading provider of motor coach, transit and specialty passenger transport equipment, announced today the sale of the largest battery electric double decker motor coach to All Aboard America! Holdings, the fourth largest motor coach operator in the U.S.

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The first repowered electric Van Hool TD925 motor coach is getting ready for the road at Lightning eMotors' Colorado manufacturing plant. (Photo: Lightning eMotors / M. Miller)

The first delivery to Lux Bus America in Anaheim, CA will be a Van Hool TD925 repowered double-decker electrified by Lightning eMotors from diesel to all-electric. It touts a 640 kWh battery capacity, the largest known to exist for a vehicle of its type, an estimated range of over 200 miles, and a charge time of under six hours with a 150 kW DC fast charger. The coach has a seating capacity of 70 people.

“There are nearly 35,000 diesel motor coaches on the road in the U.S. today, and the vast majority of them are ideal candidates for electrification,” Kash Sethi, Chief Revenue Officer of Lightning eMotors, said. “Electrifying these existing diesel vehicles has a strong financial and environmental business case. It keeps the chassis and premium bus body out of the scrapyard and enables the move to zero-emissions with a dramatically lower cost than buying a new motor coach, diesel or electric.”

Lightning worked with their motor coach dealer-partner ABC Companies to deliver a single deck motor coach to All Aboard America! in Mesa, AZ in January of 2021 and to develop the double decker.

“We are thrilled to have had the chance to partner with Lightning eMotors on this important project,” said Roman Cornell, President and Chief Commercial Officer of ABC Companies. “The first repowered motor coach that Lightning delivered has performed superbly while meeting range, noise and performance targets to seamlessly integrate within transitioning fleets of new electric and existing combustion-powered coaches.”

With the elimination of emissions and the quiet ride, both single-deck and double decker motor coaches are an ideal solution for transporting employees to and from large corporate campuses. From global corporations to local universities, eliminating many privately operated vehicles on the road with a zero-emissions motor coach has a significant impact on the quality of life for those institutions and the communities on the commuter routes.

“As large corporate campuses begin to open up after COVID-19, we are seeing an increased interest in zero-emission employee transportation,” said Bill Trimarco, CEO of All Aboard America! Holdings. “Not only do electric buses provide an attractive total cost of ownership, but the clean, quiet ride makes them perfect for employees or students that want to collaborate or do other work while commuting to or across corporate campuses.”

“We are honored to partner with Bill and All Aboard America! I am excited to see the expressions on riders’ faces when they first experience this coach—the ride is simply amazing, and not having to idle while waiting is game-changing,” said Tim Reeser, CEO of Lightning eMotors. “In addition, as we work more with corporate and college campuses, we see an opportunity to take our drive-by-wire technology to the next level and fully autonomize it for campus operation.”

The first Lightning eMotors electrified double-decker coach is scheduled to be delivered and deployed later this month.

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.

ABOUT ABC COMPANIES

ABC Companies is a leading provider to the transportation industry with diverse product and service offerings that cover a full spectrum of operational needs including new and pre-owned full-size highway coach equipment along with transit specialty vehicles including battery electric vehicles. ABC supports customers with a comprehensive after sale service network for service and repairs, collision services, extensive OEM and quality aftermarket parts needs for transit, motor coach and heavy-duty equipment from ten strategically placed locations throughout the U.S. and Canada. Additionally, private and municipal financing and leasing options are available through the company’s financial services group – one of the largest financial service providers within the industry. For more information, contact ABC Companies at 800-222-2875 or visit the company web site at www.abc-companies.com.

ABOUT ALL ABOARD AMERICA! HOLDINGS, Inc.

All Aboard America Holdings is the fourth largest motorcoach operator in the United States with operations spanning California to the Gulf Coast. Every day, we have more than 1,000 vehicles on the road carrying thousands of passengers and serving groups large and small for employee shuttles, student transportation, government contracts, military transportation and local charters. We are a national provider comprised of six individual, market-leading brands with a strong commitment to our local communities and our people. We are proud of our shared culture and passion for safety, service and quality, and we know that it is our commitment to safety and our geographic footprint that brings an unmatched level of comfort to our customers. To learn more, visit www.aaahinc.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding the anticipated product launch for All Aboard America! Holdings, Inc., whether the increase in purchase will be sustainable or the catalyst for campus, stadium, university or other similar entities to accelerate their adoption of commercial electric buses, the potential impact on Lightning eMotors’ costs and demand for its products, the expected delivery date for the new electric commercial buses and statements regarding Lightning eMotors product and customer developments, its expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future revenues and expenses and the business plans of Lightning eMotors’ management team. 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) the actual number of zero-emission commercial buses purchased pursuant to the agreement and the actual revenue generated thereunder, (ii) those related to our operations and business and financial performance; (iii) our ability to deliver the products and services under the agreement on the expected timetable; (iv) the success of our customers’ development programs which will drive future revenues; (v) our ability to execute on our business strategy and grow demand for our products and our revenue; (vi) the potential impact on our costs; (vii) the potential severity, magnitude and duration of the COVID-19 pandemic as it affects our business operations, global supply chains, financial results and position and on the U.S. and global economy; (viii) current market conditions and federal, state, and local laws, regulations and government incentives, particularly those related to the commercial electric vehicle market; (ix) the size and growth of the markets in which we operate; (x) the mix of products utilized by the Company’s customers and such customers’ needs for these products; and (xi) market acceptance of new product offerings and whether this will be a catalyst for others to purchase electric vehicles. Moreover, we operate 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. We undertake 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.

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