Shyft Group Invests $16M for Blue Arc All-Electric Vehicles

NOVI, Mich. — The Shyft Group (NASDAQ: SHYF), the parent company of Spartan RV Chassis, announced plans to invest in and expand the company’s facilities in Charlotte, Mich., which will enable production of commercial electric vehicles for its Blue Arc EV Solutions brand, launched last year. Shyft will invest approximately $16 million for expansion and improvements in facilities as well as new equipment related to the production of EVs.

“We’re extremely proud to invest in EV production here in our home state of Michigan where our company has been headquartered for nearly 50 years,” said President and CEO Daryl Adams. “We are thankful to be part of the Charlotte community and look forward to bringing the future of fleets to our operations there.”

The Charlotte campus, with seven facilities, is currently home to multiple Shyft product lines, including walk-in delivery vans, motorhome chassis, and work truck chassis. The addition of Blue Arc EV production will help support the company’s previous commitment towards employment levels on the Charlotte campus, with Blue Arc bringing a wide range of engineering, manufacturing and technical jobs to Charlotte.

With the expansion, upgrades to facilities, and installation of new equipment, Shyft will have the capacity to produce up to 3,000 EVs per year in Charlotte. The company previously announced an initial customer pre-order for 2,000 Class 3, 4 and 5 all-electric delivery vehicles.

The Shyft Group’s expansion is being supported by co-investment and business incentives from the city of Charlotte, the Lansing Economic Area Partnership (LEAP), and the Michigan Economic Development Corporation (MEDC).

“Congratulations to the Shyft team on your continued growth and success. This investment underscores the strength of your business powered by our state’s talented workforce and leadership in mobility and advanced manufacturing,” said Quentin Messer, Jr., CEO of the MEDC and President and Chair of the Michigan Strategic Fund. “We are grateful to the Governor, bipartisan legislators, and local officials for their continued support of the Jobs Ready Michigan Program, which supports upskilling and training opportunities for our friends and neighbors across the state. We’re grateful to Shyft for this vote of confidence in Michigan and look forward to working together to grow, add jobs, and provide greater opportunity in Mid-Michigan.”

“This is another critical addition to the growing EV Capital of America here in Lansing Michigan region,” said Bob Trezise, president and CEO of LEAP. “From their family-owned roots in Charlotte, the Shyft Group’s impressive growth into an innovative global heavyweight industry player has blossomed under CEO Daryl Adam’s leadership and team. The competition from other communities and states is intense for a growing company like Shyft and overall for electric vehicle and adjacent industry projects. Shyft’s continued commitment to invest locally has been clear and our region is better off because of it.”

“That Charlotte will be home to this important commercial segment of the EV vehicle market is fantastic news,” said Mayor Michael Armitage. “The Shyft Group has been a vital part of the city’s business community for many, many years and we are proud to continue partnering with their growing company.”

Poised to lead as the only player designing and manufacturing integrated chassis and specialty bodies in-house for the Class 3-5 segment, Blue Arc EV Solutions has selected leading automotive suppliers for key vehicle systems and subsystems in the EV chassis and the fully reimagined all-electric delivery walk-in van.

Source: https://rvbusiness.com/shyft-group-invests-16m-for-blue-arc-all-electric-vehicles/