Lightning Systems raises $41 million for electric powertrain production

Colorado-based Lightning Systems, a developer of electric drivetrains, has raised $41 million in a recent funding round led by BP Ventures. Private equity fund Cupola Infrastructure Income Fund contributed as a new investor.

Lightning will use the funding to ramp up production of electric powertrains for Ford Transits, Ford E-450s, Ford F-59 step vans, Chevrolet Low Cab Forward 6500XD trucks, and Lightning Electric city buses.

Tim Reeser, Lightning Systems CEO, said, “We are now delivering powertrains for over $25 million in orders from major fleets. Lightning is in series production of high-quality powertrains for new and repowered commercial vehicles across Class 3-7 on five major platforms that are on the road with customers today.”

Source: Lightning Systems