Lightning eMotors generates record revenues and manufacturing figures for 2022
By Luke Willetts - 13th April 2023
Lightning ZEV4 Zero-Emission Class 4 Shuttle Bus
USA – Lightning eMotors Inc, an electric vehicle retrofitter and manufacturer based in Loveland, Colorado, generated record production (381 units, up from 156 units in 2021) and revenue (USD 24.4 million, up 16% from USD 21 million in 2021) figures in 2022. The company expects 2023 revenue to be in the range of USD 35 to 50 million after weathering supply chain constraints and changing their battery supplier.
Tim Reeser, CEO of Lightning eMotors listed a few major milestones as well as a few changes going into 2023. A major company shift has seen the decision to replace Romeo batteries (Romeo Power Inc) with CATL (Contemporary Amperex Technology Co Ltd) and Proterra (Proterra Inc) battery packs. Having Romeo as its sole supplier affected the company heavily in 2022, as Reeser stated, “… our fourth quarter revenue was constrained due to a major supplier quality issue with Romeo batteries.”
