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Electric vehicle conversion business fell on tough times after over a decade of success

Electric vehicle conversion business fell on tough times after over a decade of success
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Lightning eMotors warns it could go bankrupt – BizWest

Lightning eMotors warns it could go bankrupt – BizWest
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Lightning eMotors warns it could go bankrupt

Although it reported record quarterly revenue on Monday, Loveland-based Lightning eMotors Inc. (OTC: ZEVY) expressed concern this week that it might not survive. ....

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Industry outlook – BizWest

Industry outlook – BizWest
bizwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizwest.com Daily Mail and Mail on Sunday newspapers.

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Lightning eMotors posts $27.43M loss in final pre-public quarter but touts sales backlog – BizWest

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The Loveland-based Lightning generated nearly $4.6 million in revenue during the period by selling 31 vehicles, compared with $695,000 in the same period last year. The company reported a first-quarter loss from operations of $5.3 million, up from $2.6 million a year ago.
Lightning makes electric engines and transmissions that replace gas-powered powertrains on buses and commercial trucks; it also installs and maintains charge points for electric vehicle fleets.
That expansion outside of solely producing vehicles is a boon for the company as it manages an array of shortages of key materials, CEO Tim Reeser said, but he still expects the pandemic-led shortages to cut into the company’s operations in the short term. ....

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