VIA Motors Announces $170 million deal to sell 2,000 Class 3 Electric Chassis Cabs to Pegasus Specialty Vehicles

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- VIA Motors, a leading electric commercial vehicle manufacturer with proven advanced electric drive technology and sustainable mobility solutions for a wide variety of Class 2 – 5 electric commercial vehicle applications, today announced that it has received a purchase order for 2,000 Class 3 VIA electric cutaway chassis cabs from Pegasus Specialty Vehicles. Pegasus will leverage the flexibility of VIA's commercial products to build Type A school buses, electric shuttles, and paratransit buses. Pegasus has a dealership network throughout the United States, including Creative Bus Sales, the nation's largest bus dealership.

“With our innovative electric commercial vehicles, we can provide an EV solution to not only the bus, shuttle and transit segments, but also to many of the commercial segments,” said Bob Purcell, CEO of VIA Motors.

A Pegasus Bus on a VIA cutaway will feature all-wheel drive and industry-leading low floor height and turning radius. Gross Vehicle Weight rating (GVWR) of the units will range from 12,500 to 14,000 pounds. The electric motors will generate a continuous rated 400 horsepower and will be able to transport a payload of 7,000 to 8,200 pounds within a range of 180 miles.

"Our primary strategic objective is predicated upon bringing new, innovative, and unique bus solutions to the marketplace, and our Valkyrie model on the VIA chassis does just that," said Brian Barrington, president of Pegasus Specialty Vehicles. "Our advanced bodies, mounted on these reliable, fuel-efficient and customizable chassis will truly be a game-changer in the markets we're focused on."

Pegasus Specialty Vehicles has an agreement in place with Creative Bus Sales to support the sale and servicing of their vehicles. Creative's national dealership base consists of 23 dealers throughout the United States and Canada. This relationship allows VIA and Pegasus to leverage Creative's extensive service network and long-established expertise in the bus market. Pegasus' total dealer network consists of 56 dealer sales and service centers.

"We're very excited to take on the Pegasus product line, and the timing couldn't be better," said Jason Hohalok, sales manager for Creative Bus Sales California. "Our customers are looking for new and better solutions, and the Pegasus Type A school buses, electric shuttle and paratransit bus bodies on the VIA Electric Chassis provides us with exactly that."

In the United States, there are more than 500,000 school buses on the road bringing roughly 25 million children to and from school. Together, these school buses represent one of the largest fleets in the country and primarily run on diesel fuel, emitting more than 5 million pounds of CO2 emissions and other toxic pollutants per year. Recently, the U.S. Environmental Protection Agency has made more than $500 million in funds available for school districts to purchase clean, quiet zero-emission school buses.

“VIA Motors is delighted to receive a significant order that will help accelerate the electrification of school buses in the United States and Canada,” said Frank Jenkins, senior director of sales for VIA Motors. “As we work with Pegasus and leverage the reach of Creative Bus Sales, the potential to grow VIA’s footprint in this segment is strong.” 

VIA Motors is in a pending transaction with Ideanomics, (Nasdaq: IDEX), a global group with a simple mission: to accelerate the commercial adoption of electric vehicles.

VIA Motors’ electric commercial trucks include Class 2 through Class 5 chassis cabs, cutaways, walk-in vans and platforms with electric drive technology offering sustainable mobility solutions to help commercial customers achieve their electrification goals. VIA’s purpose-built commercial vehicles can address commercial customers’ needs in multiple applications and duty cycles. The VIA difference is to leverage a true OEM robust vehicle validation process to ensure the company provides a truck that is dependable, durable and delivers more than expected.

To view high-resolution images of Class 3 VIA electric cutaway chassis cabs and Pegasus bus applications, please visit https://drive.google.com/drive/folders/1M2oNQCMr91e7mCxfp2IbsqGxej-IKSJ_?usp=sharing.

ABOUT VIA MOTORS INTERNATIONAL, INC.

VIA is a leading electric commercial vehicle company with proven advanced electric drive technology, delivering sustainable mobility solutions for a more livable world. VIA designs, manufactures, and markets electric commercial vehicles, with superior life-cycle economics, for use across a broad cross-section of the global fleet customer base. VIA's vehicles are optimized for each fleet's needs, with intelligent software packages and fleet monitoring systems that are designed to reduce cost and improve operating efficiencies. VIA is a systems-driven company and strives to optimize the total fleet experience including energy, maintenance, uptime, route mapping and more, with reduced development time, improved quality, driving comfort, energy efficiency and connectivity. VIA Motors is in a pending transaction with Ideanomics, a global group with a simple mission, to accelerate commercial adoption of electric vehicles. https://www.viamotors.com

ABOUT PEGASUS SPECIALTY VEHICLES

Pegasus Specialty Vehicles is spearheaded by industry-proven leadership, experienced as reputable expert innovators in the school transportation and manufacturing industries. Its management team brings a culture of creativity, flexibility, effectiveness, efficiency, and teamwork to producing competitively priced modern school and shuttle buses that address market needs that have been ignored by existing bus manufacturers. Located in West Central Ohio, Pegasus is positioned to be able to service the entire U.S. and Canada from one location. The company provides buses for both school and transit bus industries. The company’s leadership is well recognized by bus dealers, school bus contractors, school district transportation operators, and decision-makers who have expressed dissatisfaction with current products that do not provide the features these buyers need and want. Learn more at www.ridepegasus.net

ABOUT CREATIVE BUS SALES

Creative Bus Sales offers dedicated sales, parts, and service departments to help you in all stages of bus ownership. As a family-owned business with experience in the transportation industry since 1980, it's no coincidence that Creative Bus Sales has grown to become the nation's largest bus dealership. In addition, its new and used buses undergo a bumper-to-bumper inspection to help protect customers' investments. Customers further benefit from the company's strong manufacturing partnerships, the largest in-stock inventory, and a nationwide team of experts. Learn more at www.creativebussales.com

Safe Harbor Statement  
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.

For further information, please contact:
Frank Jenkins, Senior Director Sales, and Marketing
VIA Motors, Inc.
Phone: (574) 780-9045
Email: [email protected]

SOURCE Ideanomics