LION ELECTRIC';S SCHOOL BUSES ARE NOW ELIGIBLE FOR DOMINION ENERGY'S ELECTRIC SCHOOL BUS INFRASTRUCTURE PROGRAM IN VIRGINIA
The Lion Electric Company (NYSE: LEV) announces that its all-electric school buses are now eligible for Dominion Energy's Electric School Bus Infrastructure program in Virginia. This program supports public school districts by providing fast-charging solutions to those receiving EPA Clean School Bus funding. Dominion Energy facilitates the coordination of utilities, network upgrades, and installation of charging infrastructure.
The initiative also enables electric school buses to serve as a grid resource through vehicle-to-grid (V2G) technology. This allows buses to be used as additional energy storage and discharge energy to the grid during high-demand periods. The program complements the EPA's Clean School Bus Program, which is expected to deploy $5 billion in funding over five years to accelerate electric school bus adoption across the United States.
La Lion Electric Company (NYSE: LEV) annuncia che i suoi autobus scolastici completamente elettrici sono ora idonei per il programma di infrastruttura per autobus scolastici elettrici di Dominion Energy in Virginia. Questo programma supporta i distretti scolastici pubblici fornendo soluzioni di ricarica rapida a coloro che ricevono finanziamenti EPA per autobus scolastici puliti. Dominion Energy facilita il coordinamento delle utenze, gli aggiornamenti della rete e l'installazione dell'infrastruttura di ricarica.
L'iniziativa consente inoltre agli autobus scolastici elettrici di fungere da risorsa per la rete attraverso la tecnologia veicolo-rete (V2G). Ciò consente che gli autobus possano essere utilizzati come ulteriore accumulo di energia e scaricare energia nella rete durante i periodi di alta domanda. Il programma integra il Programma EPA per gli autobus scolastici puliti, che si prevede destinerebbe 5 miliardi di dollari di finanziamento nell'arco di cinque anni per accelerare l'adozione degli autobus scolastici elettrici negli Stati Uniti.
La Lion Electric Company (NYSE: LEV) anuncia que sus autobuses escolares totalmente eléctricos ahora son elegibles para el programa de infraestructura de autobuses escolares eléctricos de Dominion Energy en Virginia. Este programa apoya a los distritos escolares públicos mediante el suministro de soluciones de carga rápida a aquellos que reciben financiación de la EPA para Autobuses Escolares Limpios. Dominion Energy facilita la coordinación de servicios públicos, actualizaciones de red e instalación de infraestructura de carga.
La iniciativa también permite que los autobuses escolares eléctricos sirvan como un recurso de red a través de la tecnología vehículo-a-red (V2G). Esto permite que los autobuses se utilicen como almacenamiento adicional de energía y descarguen energía a la red durante períodos de alta demanda. El programa complementa el Programa de Autobuses Escolares Limpios de la EPA, que se espera que despliegue 5 mil millones de dólares en financiación durante cinco años para acelerar la adopción de autobuses escolares eléctricos en los Estados Unidos.
라이온 전기 회사(Lion Electric Company, NYSE: LEV)는 자사의 완전 전기 학교 버스가 버지니아의 도미니언 에너지 전기 학교 버스 인프라 프로그램에 적격하다고 발표했습니다. 이 프로그램은 EPA 청정 학교 버스 자금을 받는 공립 학교 구역에 빠른 충전 솔루션을 제공하여 지원합니다. 도미니언 에너지는 유틸리티 조정, 네트워크 업그레이드 및 충전 인프라 설치를 원활하게 진행합니다.
이 이니셔티브는 또한 전기 학교 버스가 차량-망(V2G) 기술을 통한 전력망 자원으로 기능할 수 있게 합니다. 이를 통해 버스는 추가 에너지 저장소로 활용되고, 높은 수요 기간 동안 에너지를 그리드에 방출할 수 있습니다. 이 프로그램은 EPA의 청정 학교 버스 프로그램을 보완하며, 이는 미국 전역의 전기 학교 버스 도입을 가속화하기 위해 향후 5년 동안 50억 달러의 자금을 지원할 것으로 예상됩니다.
La Lion Electric Company (NYSE: LEV) annonce que ses autobus scolaires entièrement électriques sont désormais éligibles au programme d'infrastructure des autobus scolaires électriques de Dominion Energy en Virginie. Ce programme soutient les districts scolaires publics en fournissant des solutions de recharge rapide à ceux qui reçoivent des financements EPA pour les autobus scolaires propres. Dominion Energy facilite la coordination des services publics, des mises à niveau du réseau et de l'installation de l'infrastructure de recharge.
L'initiative permet également aux autobus scolaires électriques de servir de ressource pour le réseau grâce à la technologie véhicule-réseau (V2G). Cela permet d'utiliser les autobus comme stockage d'énergie supplémentaire et de décharger de l'énergie dans le réseau pendant les périodes de forte demande. Le programme complète le Programme des Autobus Scolaires Propres de l'EPA, qui devrait déployer 5 milliards de dollars de financement sur cinq ans pour accélérer l'adoption des autobus scolaires électriques aux États-Unis.
Die Lion Electric Company (NYSE: LEV) kündigt an, dass ihre vollständig elektrischen Schulbusse nun für das Programm zur Infrastruktur elektrischer Schulbusse von Dominion Energy in Virginia berechtigt sind. Dieses Programm unterstützt öffentliche Schulbezirke, indem es schnellladende Lösungen für diejenigen bereitstellt, die Mittel aus dem EPA-Programm für saubere Schulbusse erhalten. Dominion Energy erleichtert die Koordination von Versorgungsunternehmen, Netzwerk-Upgrades und die Installation der Ladeinfrastruktur.
Die Initiative ermöglicht es elektrischen Schulbussen außerdem, als Netzressource durch die Technologie Fahrzeug-zum-Netz (V2G) zu fungieren. Dies erlaubt es, dass Busse als zusätzliche Energiespeicher genutzt werden können und während Stoßzeiten Energie ins Netz abgeben. Das Programm ergänzt das EPA-Programm für saubere Schulbusse, das voraussichtlich 5 Milliarden US-Dollar an Mitteln über einen Zeitraum von fünf Jahren bereitstellen wird, um die Einführung elektrischer Schulbusse in den Vereinigten Staaten zu beschleunigen.
- Lion Electric's school buses are now eligible for Dominion Energy's infrastructure program in Virginia
- The program provides fast-charging solutions and infrastructure support to school districts
- Vehicle-to-grid (V2G) technology allows buses to serve as grid resources
- Complementary to EPA's Clean School Bus Program with $5 billion in funding over five years
- None.
Insights
Lion Electric's inclusion in Dominion Energy's program marks a significant milestone for the company's market penetration in Virginia. This partnership opens up a substantial new market for Lion, potentially leading to increased sales and revenue. The program's focus on V2G technology adds another layer of value, positioning Lion's buses as
However, investors should note that while this news is positive, the actual financial impact remains to be seen. The success will depend on how many school districts adopt Lion's buses and the speed of implementation. Additionally, competition in the electric school bus market is intensifying, which could affect Lion's market share and margins in the long term.
This development represents a significant step forward in educational infrastructure. The integration of V2G technology in school buses is not just an environmental win but also a practical lesson in sustainable energy for students. It's a real-world application of STEM concepts, potentially enhancing the educational experience.
However, the transition to electric buses may face challenges such as:
- Initial costs and budget constraints for school districts
- Need for staff training on new technology
- Potential resistance to change from existing transportation staff
This partnership significantly boosts Lion Electric's competitive position in the rapidly growing electric school bus market. With the EPA's Clean School Bus Program allocating
However, investors should consider the following:
- Increasing competition in the EV school bus market
- Potential supply chain constraints affecting production capacity
- Dependency on government funding and initiatives
Dominion Energy, the main electricity provider in
"Dominion Energy's Electric School Bus Infrastructure program represents a unique opportunity for school districts across
"Dominion Energy is committed to helping
Dominion Energy's Electric School Bus Infrastructure program is a great complement to the EPA's Clean School Bus Program, for which
School districts interested in acquiring an all-electric school bus can also benefit from the Lion Customer Success team, who are experts in supporting the transition to zero emissions and maximizing operational success. Support includes charging infrastructure through LionEnergy, financing assistance via LionCapital Solutions, funding support services from the LionGrants team, driver, maintenance, and safety training by Lion's BrightSquad, and proprietary EV telematics with LionBeat.
School districts and fleet customers ready to start their electrification journey are invited to contact Lion Electric at marketing.lion@thelionelectric.com.
To learn more about the Dominion Energy's Electric School Bus Infrastructure program in
ABOUT LION ELECTRIC
Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric school buses. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.
ABOUT DOMINION ENERGY
More than 4.5 million customers in 13 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"), including statements about Lion's beliefs and expectations and other statements that are not statements of historical facts. Forward-looking statements may be identified by the use of words such as "believe," "may," "will," "continue," "anticipate," "intend," "expect," "should," "would," "could," "plan," "project," "potential," "seem," "seek," "future," "target" or other similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements may contain such identifying words. The forward-looking statements contained in this press release are based on a number of estimates and assumptions that Lion believes are reasonable when made. Such estimates and assumptions are made by Lion in light of the experience of management and their perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information on estimates, assumptions, risks and uncertainties underlying certain of the forward-looking statements made in this press release, please consult section 23.0 entitled "Risk Factors" of the Company's annual management's discussion and analysis of financial condition and results of operations (MD&A) for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission, including the Company's interim MD&As. Many of these risks are beyond Lion's management's ability to control or predict. All forward-looking statements attributable to Lion or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained and risk factors identified in the Company's annual MD&A for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Except as required under applicable securities laws, Lion undertakes no obligation, and expressly disclaims any duty, to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise.
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SOURCE The Lion Electric Co.
FAQ
What is the significance of Lion Electric's school buses being eligible for Dominion Energy's program?
How does the vehicle-to-grid (V2G) technology benefit the power grid?
What additional support does Lion Electric offer to school districts transitioning to electric buses?
How much funding is expected from the EPA's Clean School Bus Program?
