Although it made more in sales, Shyft took less income in 2022: its adjusted net income for the year was USD44.5m, a 40% drop from the year before.

The USD16m will be spent on expanding and upgrading its manufacturing facilities located in Charlotte, Michigan to allow for the series production of Class 3-5 electric vehicles.

Now called Spruce Power, the erstwhile retrofit firm has divested from the vehicle industry to focus on providing residential solar energy and EV charging services.

Modine will provide its suite of products under the ‘EVantage’ brand, which include thermal management systems for batteries and cooling systems for electronics.

The Power Cube is a mobile, remote-controlled charging station for commercial electric vehicles which can store up to 3 MW of power and can recharge vehicles in 1-2 hours, while recharging itself with wind and solar power.

The new ‘Blue Arc’ brand of electric delivery vans by The Shyft Group will be powered by batteries supplied by Proterra Inc, following a multi-year agreement struck between the two companies.

Shyft Group launched a new brand with a range of electric vehicle products, while subsidiaries DuraMag and Utilimaster showcased a range of light truck products.

The specialty chassis and truck body manufacturer achieved sales of USD991.8m in 2021 and USD227.3m in Q4.

The company reported a 34% increase in sales (USD272.6m) and a gross profit margin of 20.6%.

The 40,000 sq ft facility will play host to R&D unit Shyft Innovations, which is currently developing an all-electric chassis platform for medium-duty CVs.

Since the launch of the Class 2 Utilimaster Velocity F2 walk-in-van (WIV) in October 2020 by The Shyft Group Inc, the company says the model has attracted significant orders from parcel delivery companies.

The Shyft Group Inc announced it is to produce its first production order of electric vehicles for two major parcel delivery companies on its new flexible body assembly line later this year.