Shyft Group expands electric vehicle support with Amerit Fleet Solutions

NOVI, MI – Shyft Group, Inc. (NASDAQ: SHYF), a leader in commercial specialty vehicle manufacturing, announces a partnership with Amerit Fleet Solutions to provide 24/7 maintenance for its Blue Arc™ electric vehicles (EVs) across the United States ) truck.

The partnership aims to enhance the customer experience by ensuring continued support for Blue Arc electric trucks, thereby reducing downtime and maintaining fleet operations. Amerit's maintenance program complements Shyft's existing service infrastructure, which includes on-site dealer services and a dedicated Blue Arc EV technical support team.

Shyft's in-house technical support team consists of more than 30 certified technicians and engineers focused on vehicle development, validation and testing. This ensures customers receive high service standards at all touch points, including a proven parts ordering system to assist with maintenance and repairs.

The company has also established a select dealer network staffed with technicians trained and certified by Shyft Blue Arc's engineering team to provide convenient vehicle repair services in dealer garages. This integrated service model is designed to provide Shyft's last-mile customers and drivers with a seamless transition to electric vehicle technology.

The Blue Arc platform is recognized for its commercial-grade purpose-built electric vehicle chassis, designed to meet the demanding duty cycles of commercial vehicles. It brings together contributions from Tier 1 suppliers such as Akebono, Bosch, Dana, Hendrickson and Modine (NYSE: ), which deliver best-in-class solutions.

Shyft recently secured an order for 150 Blue Arc electric trucks from FedEx (NYSE: ) for its U.S. pickup and delivery fleet, demonstrating a joint effort to reduce carbon emissions. During testing in Memphis, the Blue Arc truck successfully ran an 8-10 hour route in high temperatures and demonstrated its ability to regenerate electricity through a regenerative braking system.

Shyft Group has a 50-year history in last-mile delivery vehicles and is known for its quality, durability and innovation. The company has approximately 3,000 employees and 2023 sales of $872 million.

The strategic partnership with Amerit Fleet Solutions is part of Shyft's commitment to fully support customers as they transition to environmentally friendly electric vehicle technology.

The information in this article is based on press release statements.

Investment Professional Insights

Coupled with Shyft Group's (NASDAQ: SHYF) strategic move to bolster electric vehicle (EV) supporting infrastructure, the company's financial metrics and market performance reflect a nuanced picture. Shyft has a market capitalization of US$438.61 million and is positioned as a mid-sized company in the field of special vehicle manufacturing. It's worth noting that the company's stock has experienced significant volatility, which may be of interest to investors seeking dynamic growth opportunities or with a higher risk tolerance.

one of the Investment Professional Tips Emphasizing that Shyft has maintained dividend payments for 37 consecutive years, it shows a strong commitment to returning value to shareholders. This consistency is especially noteworthy given the company's recent investments in the booming electric vehicle market. In addition, Shyft's liquid assets also reportedly exceed short-term debt, providing a buffer for operational flexibility and investments for potential growth.

From a valuation perspective, Shyft's price-to-earnings (P/E) ratio for the trailing 12 months to Q1 2024 was as high as 3748.83. is as it moves deeper into the EV space through initiatives such as the Blue Arc platform and partnerships to enhance service capabilities.

For those interested in more in-depth financial analysis and other strategic insights, investment expert A set of tips is provided, with 9 additional tips provided by Shyft Group at Readers can use coupon codes to take advantage of special offers PRONEWS24 Annual or biennial Pro and Pro+ subscriptions receive an additional 10% discount, providing even more value for those looking to make informed investment decisions.

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