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Quebec EV company Lion Electric made big promises, but struggled to deliver

Lion Electric has struggled to meet its ambitious goals, producing around 2,200 vehicles, mostly school buses, while facing production shutdowns at its U.S. Plant and filing for creditor protection in December 2023 due to $500 million in debt.
The Quebec government invested $177 million in Lion Electric and is involved in ongoing discussions as the company seeks a buyer and restructuring plan focused on school buses and manufacturing in Quebec.
Many individual investors, including Adam Mulhall, allege they were misled by positive announcements regarding agreements with Amazon, which resulted in only 10 trucks sold to date, failing to meet expectations.
As of now, Lion Electric's creditor protection has been extended until April 4, with bidders required to submit offers by March 7, according to a judge's agreement in the Quebec Superior Court.

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JONATHAN TURLEY

Full Charge: EPA Sent $160 Million to now Bankrupt Canadian Electric Bus Company

There is considerable buzz in Washington about the disclosures of Administrator for the Environmental Protection Agency (EPA), Lee Zeldin on controversial grants by the Biden Administration, including the $50 million environmental justice grant to an organization that believes “climate justice travels through a Free Palestine.” However, one item was particularly notable: $160 million to a Canadian electric bus manufacturer which later announced …

9 days ago

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The Epoch Times

Quebec EV Company Lion Electric Made Big Promises, but Struggled to Deliver

A Quebec company once hailed as a success story in the electric-vehicle transition has struggled to deliver on many of its most ambitious plans. Lion Electric Co. made a name for itself selling electric school buses in Canada and the United States. It later targeted the commercial truck market, advertising agreements with Amazon, Canadian National Railway and IKEA. Headquartered in St-Jérôme, Que., the company opened its first U.S. plant in Illi…

10 days ago·New York, United States

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Rocky Mountain Outlook

+4 Reposted by 4 other sources

Quebec EV company Lion Electric made big promises, but struggled to deliver

MONTREAL — A Quebec company once hailed as a success story in the electric-vehicle transition has struggled to deliver on many of its most ambitious plans. Lion Electric Co.

10 days ago

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La Presse

The Future of Electric Lions: A liquidation or a revival?

A spare part sale or a revival of activities thanks to a new owner: these are the two scenarios that are in front of the electric truck and bus manufacturer Lion Electric, sheltered from its creditors since December 18th.

10 days ago·Montreal, Canada

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IndustryWired

Investing in EV Companies Amid Political Uncertainty

EV Investments Amid Global Instability: Risks & Opportunities In the Year 2025 The electric vehicle (EV) industry has experienced rapid growth in recent years, driven by technological advancements, climate policies, and consumer demand for sustainable transportation. However, political uncertainty can significantly impact EV investments, influencing market stability, regulatory policies, and government incentives. Understanding these factors i…

7 days ago

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