Lightning eMotors Announces Eligibility for IRS Commercial Clean Vehicle Credit of up to $40,000 per Vehicle

Lightning eMotors (OTC:ZEVY), a leading provider of zero-emission, medium-duty commercial vehicles and electric vehicle (EV) technology for fleets, today announced that its commercial vehicle customers can now receive an up to $40,000 credit toward the purchase of select Lightning vehicles. The Commercial Clean Vehicle Credit became available to Lightning customers as a result of the company’s acceptance as a qualified manufacturer into the IRS Commercial Clean Vehicle Credit program, as defined in §30D(d)(3) of the Internal Revenue Code. The list of eligible manufacturers can be viewed here.

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Electric medium duty vehicles, such as these Lightning eMotors class 4 school buses, are eligible for multiple federal and state grants and incentives (Photo: Lightning eMotors)

“Intelligent and targeted grant programs are a key component to accelerating electric vehicle adoption, and we are fortunate to have so many compelling programs available in the United States and Canada,” said Lightning eMotors CEO and co-founder Tim Reeser. “The Commercial Clean Vehicle Credit program joins our robust stack of incentive programs, providing yet another reason for commercial passenger, cargo and vocational fleets to electrify with Lightning.”

The IRS Commercial Clean Vehicle Credit joins several other federal and state incentive programs that Lightning vehicles are eligible for, many of which stack, in some cases, to reduce the cost of an electric vehicle to nearly free. These programs include, but are not limited to:

• The Federal Transit Administration (FTA) Low- and No-Emissions Vehicle Program for transit agencies
• The Environmental Protection Agency (EPA) Clean School Bus Program
• Federal Aviation Administration (FAA) Airport Zero Emissions Vehicle and Infrastructure Pilot Program
• California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP)
• The Colorado Clean Electric School Bus Program
• The Colorado Clean Fleet Vehicle & Technology Grant Program
• The New Jersey Zero-Emission Incentive Program (NJZIP)
• The New York City Clean Trucks Program
• The New York Truck Voucher Incentive Program (NYTVIP)

“The ability to stack the various grant, rebate and credit programs is designed to support accelerated electric vehicle adoption and help the market reach critical mass faster to the benefit of both the national transportation ecosystem and our environmental well-being,” said Nick Bettis, vice president, marketing and sales operations for Lightning eMotors. “For example, a Type A school bus may be obtained by a school district or operator at essentially no cost and be operated with significantly lower costs as well. That’s a huge win for the district, the students and the environment.”