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Cordes & Company, in its capacity as receiver of Lightning eMotors, entered into an Asset Purchase Agreement to sell substantially all of the assets of the company for $12.6 million in cash, subject to adjustment.
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President Biden’s Bipartisan Infrastructure Law, invests $5.6 billion to support the purchase of cleaner American-made transit buses, train the transit workforce, and upgrade fueling and maintenance infrastructure.
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The acquisition, which was made at a purchase price of $210 million before adjustment for inventory level at closing and was first announced in November, includes a development center for battery modules and packs in California and an assembly factory in Greer, S.C.
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As with New York City Transit’s subways and buses, OMNY will allow Hudson Rail Link users to participate in the MTA’s seven-day fare capping program.
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This is the largest single contract that CCW has been awarded in its history.
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The significant step toward sustainable transit comes after the bus underwent rigorous testing last year.
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The American Bus Association Foundation partnered with the Texas A&M Transportation Institute to assess the environmental impact of motorcoach operations.
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Transdev will continue to provide operations and maintenance for Community Transit’s commuter bus and Sound Transit ST Express service.
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The acquisition will add heavy-duty transit buses to Phoenix's existing product line of medium-duty shuttle and school buses.
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NVTC's Ann McGrane discussed the agency's Northern Virginia Zero-Emission Bus Strategic Plan and how the agency is moving forward with its emissions efforts.
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