- The two are both slated to go public via reverse mergers with special purpose acquisition companies (SPACs)
- Lightning eMotors said that the first transit vans with Proterra batteries are expected to be delivered to customers later this year
As per a report by Reuters, Proterra Inc will provide batteries for electric transit vans that Lightning eMotors is building to meet growing demand from companies looking to electrify their fleets, the EV company said. The two are both slated to go public via reverse mergers with special purpose acquisition companies (SPACs).
Lightning eMotors has merged with Gigacapital3 Inc in a deal valued at $823 million. It said that the first transit vans with Proterra batteries are expected to be delivered to customers later this year.
Expand its annual manufacturing capacity to 3,000 vehicles this year
It said that it aims to expand its annual manufacturing capacity to 3,000 vehicles this year, up from currently 1,000. In January, Proterra announced a merger with ArcLight Clean Transition Corp in a deal valued at $1.6 billion.
The report added that Proterra and Lightning eMotors are part of a range of commercial EV makers, including Rivian, Fisker Inc and Nikola Corp, seeking to build on the success of Tesla Inc.