Investor Group Led by Montreal Tycoon Vincent Chiara Poised to Rescue Bankrupt Lion Electric with Fresh Capital Injection

Investor Group Led by Montreal Tycoon Vincent Chiara Poised to Rescue Bankrupt Lion Electric with Fresh Capital Injection

There is renewed hope for struggling Canadian electric bus and truck manufacturer Lion Electric, as a group of investors led by Montreal real estate magnate Vincent Chiara is set to take control of the bankrupt company. The proposed takeover, reported by Bloomberg, aims to provide new capital and steer the insolvent firm away from liquidation, [...] The post Investor Group Led by Montreal Tycoon Vincent Chiara Poised to Rescue Bankrupt Lion Elec…

Truck and bus maker Lion Electric may find new Canadian investor (thus avoiding bankruptcy)

According to Electrive, in turn quoting Bloomberg, Canadian truck & bus maker Lion Electric may be helped by new investor to avoid going into bankruptcy. At the beginning of this year, the company had announced the will to focus only on the bus business after struggling with serious financial problems due to the slowdown in e-vehicle business. Lion Electric may be rescued by new investor Indeed, Lion Electric is insolvent. Electrive reports that…

Que. Investors To Purchase Lion Electric - Canadian Manufacturing

A group of Quebec investors has reached a deal to acquire and relaunch Lion Electric, offering a second chance to the struggling vehicle-maker. The St-Jérôme, Que.-based manufacturer made the announcement on May 15, after a months-long search for a buyer that nearly came up empty. The agreement comes after the Quebec government refused to inject more public funds directly into Lion Electric, which sought protection from its creditors in December…

Lion Electric eyes rescue with new investor-backed takeover plan - Sustainable Bus

Lion Electric may avoid liquidation after a takeover offer was submitted by a group of investors led by Montreal businessman Vincent Chiara, coming from the real estate business. Lion Electric filed for creditor protection on December 18, 2024, with debts exceeding $411 million. A previous deal collapsed after the Quebec government declined to inject further funds. As of early May, the company looked on the brink of bankruptcy. The new offer com…