Sunday, April 14, 2024

Big order of Lion Electric Buses

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Maria Gill
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Compagnie Électrique Lion has an order for 260 electric school buses, which, according to Saint-Jérôme, represent the largest contract ever obtained from a single customer.

Julian Arsenault

The electric truck and bus manufacturer made the announcement on Monday along with its first-quarter results ending March 31, which ended with a net loss of $ 16 million, or 15 cents per share.

It was First Student who ordered 260 buses, which will be used by its subsidiary Transco, located in Quebec. First Student is expected to become the largest zero-emission school bus operator in North America, according to Leon.

Deliveries are expected to start in the second half of the year and extend to 2023.

“Today marks a new step in adopting zero-emissions school buses,” said Marc Bidard, President, CEO and Co-Founder of Lion.

In the first three months of the year, Lion achieved sales of $ 6.2 million, compared to $ 1.2 million during the same period in 2020. The company, whose shares are traded on the Toronto Wall Street Stock Exchange, delivered 24 vehicles. , Up from the last two years.

As of May 14, Lyon has received 817 orders – 209 for trucks and 608 for buses. The total value of the orders has been estimated at more than 225 million USD. It had more than 650 employees.

“Our goal is to accelerate our growth and implement our long-term strategy, particularly through building our plant in the United States and our battery plant projects, by continuing to build our order book, by speeding up vehicle deliveries and further strengthening our team,” said Mr. Perard.

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Quebec Corporation announced on May 7 that it plans to establish its American electric truck and bus manufacturing plant in the suburbs of Chicago, Illinois. Production is expected to start in the second half of 2022.

Lion already operates an assembly plant in Saint-Jérôme, in Laurentians, with an estimated production capacity of 2,500 cars per year. It’s still planning to open a battery factory in Quebec. Saint Jerome and Mirabel are in class.

Last fall, Leon indicated that he was planning to go public by merging with the special-purpose acquisition company Northern Genesis, whose shares were traded in New York. The deal enabled the company to obtain nearly half a billion US dollars to fund its growth.

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