Lightning eMotors : rsquo; CEO and Leadership Team Ring Opening Bell at New York Stock Exchange

Lightning eMotors' CEO and Leadership Team Ring Opening Bell at New York Stock Exchange

New York, May 24, 2021 - Lightning eMotors' CEO Tim Reeser and members of the company's executive team today rang the opening bell at the New York Stock Exchange (NYSE) to celebrate the zero-emission commercial vehicle manufacturer's listing on the exchange earlier this month.

Lightning eMotors, based in Loveland, Colorado, is a leading provider of commercial zero-emission vehicles for fleets. On May 7, the company began trading its common stock on NYSE under the new symbol 'ZEV.'

'Trading on the exchange and ringing the bell on Wall Street are big milestones for our company,' said Tim Reeser, CEO of Lightning eMotors. 'However, we remain focused on the task at hand. In the past six months, we've added 22 new fleet customers, giving us an overall total of 46 fleet customers. We have vehicles on the road in 17 different market segments, including corporate and educational campus transit, micro and mass transit, middle-mile and last-mile delivery, airport shuttles, food trucks, postal delivery, and electrical services. Many of our customers also are placing repeat orders after successful initial deployments.

'We are taking a few minutes today to celebrate, but then it is back to engineering, designing, and delivering great zero-emission vehicles for our growing base of customers,' Reeser said.

Last week, Lightning eMotors reported first quarter revenue of $4.6 million, having delivered vehicles across five specialty vehicle applications despite global supply chain challenges.

A video featuring Lightning eMotors' zero-emission vehicles is being shown from now until the end of June on the ABC SuperSign billboard in the southeast corner of Times Square (44^th and Broadway). Lightning also had a banner of its vehicle lineup featured on the front of the NYSE Building today, and a Lightning Electric Transit Van from DHL Express is on display this morning outside of the exchange.

Lightning eMotors is the only electric commercial vehicle manufacturer to sell and deliver zero-emission vehicles (ZEV) in Class 3, 4, 5, 6 and 7, including passenger vans, ambulances, shuttle buses, last-mile delivery vans, box trucks, and motor coaches for customers in parcel and delivery, micro transit, airport parking operations, and electric utilities.

Based on reported numbers from other manufacturers, Lightning eMotors has more zero-emission medium-duty commercial vehicles on the road today than any other manufacturer in North America. The company now has more than 140 zero-emission Class 3 through Class 7 vehicles in service, all with 1 Hz telematics providing big-data information on commercial electric vehicles' range, payload, efficiency and reliability.

About Lightning eMotors

Lightning eMotors 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, Class 4 and 5 cargo vans and shuttle buses, Class 6 work trucks, school buses, 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 including school buses and ambulances, 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. Lightning eMotors also offers charging technologies and 'Charging as a Service' (CaaS) to commercial and government fleets via its Lightning Energy division. To learn more, visit https://lightningemotors.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 development and sales of Lightning eMotors' products, its 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 involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including but not limited to: (i) the ability to maintain the listing of the Company's securities on a national securities exchange, (ii) the price of the Company's securities may be volatile due to a variety of factors, including changes in the competitive industries in which the Company operates, variations in operating performance across competitors, changes in laws and regulations affecting the Company's business and changes in the combined capital structure, (iii) that Lightning eMotors will have sufficient capital to operate as anticipated, and (iv) the impact that the novel coronavirus and the illness, COVID‑19, that it causes, as well as governmental responses to deal with the spread of this illness and the reopening of economies that have been closed as part of these responses, may have on Lightning eMotors' operations, the demand for Lightning eMotors' products, global supply chains and economic activity in general. 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.

News Media Contact:

Joe Koenig
[phone]
//// *protected email*

Investor Relations Contact:

Nick Bettis
[phone]
//// *protected email*