LION ELECTRIC APPOINTS NEW U.S. MARKETING AND TRUCK SALES EXECUTIVES, DOMINIK BECKMAN AND SYDNEY DUNN

Rhea-AI Summary

The Lion Electric Company (NYSE: LEV) appointed two new executives, Sydney Dunn as Vice President of Truck Sales, U.S. and Dominik Beckman as Vice President of Marketing and Communications, U.S. Dunn, with over 20 years of experience, previously worked at ElectraMeccanica and General Motors. Beckman, formerly with Hino Trucks, brings two decades of marketing expertise. The company aims to enhance its U.S. operations and accelerate the growth of its trucking division, particularly as it prepares to manufacture zero-emission vehicles in Joliet, Illinois, later this year.

Positive

• Appointing experienced executives Sydney Dunn and Dominik Beckman to bolster leadership in truck sales and marketing.
• Dunn has a successful track record in fleet sales and operations, beneficial for Lion's growth strategy.
• Beckman has extensive marketing expertise from leading roles at Hino Trucks and other major automotive companies.

Negative

• None.

MONTREAL, Aug. 2, 2022 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company") a leading manufacturer of all-electric medium and heavy-duty urban vehicles, today announced the addition of two executive positions in the U.S., naming Sydney Dunn as Vice President of Truck Sales, U.S. and Dominik Beckman as Vice President of Marketing and Communications, U.S.

In her new role, Dunn will oversee the medium and heavy-duty trucking sales business division in the U.S. for Lion. She brings two decades of sales and operations leadership experience to Lion. In her most recent role as Director of Fleet Sales and Operations at ElectraMeccanica, Dunn oversaw all sales and operations for the EV manufacturer's go-to-market commercial strategy. Prior to that, Dunn spent several years in General Motors' fleet and commercial division. Her roles were primarily focused on the sales and marketing of conquest customers, as well as the manufacturer's re-entry into the medium-duty truck space.

Beckman joins Lion from Toyota Group Company, Hino Trucks, where he served for the past six years as executive leader of marketing and communications, overseeing dealer network operations and connected vehicle programs, as well as EV infrastructure solutions. Beckman also serves on the board of directors for the NTEA Green Truck Association and has 20-plus years of diverse global marketing, innovation management, and competitive positioning experience spread across renowned automotive companies - Toyota/Hino, Delphi Corp., and Continental AG.

"We are pleased to welcome Sydney and Dominik to Lion's U.S. leadership team at this critical juncture in the move to zero-emission heavy-duty transportation, and at a very exciting time in our Company's history. Their passion for vehicle electrification and proven experience in fleet sales and marketing will aid us in accelerating the growth of both our trucking division and overall U.S. operations, as we prepare to start manufacturing 'Made in America' zero-emission vehicles at our Joliet, Illinois plant later this year," said Brian Piern, Chief Commercial Officer at Lion.

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 buses and minibuses for the school, paratransit and mass transit segments. 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.

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CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws, including the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not statements of historical fact, including statements about Lion's beliefs and expectations relating to the offer and sale of Common Shares under the ATM Program, are forward-looking statements and should be evaluated as such.

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 contain such identifying words. These forward-looking statements include statements regarding the offer and sale of Common Shares under the ATM Program, including the timing and amounts thereof, and the use of any proceeds from the ATM Program.

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. Such risks and uncertainties are described in greater detail in the Canadian Prospectus Supplement, the US Prospectus Supplement and section 23.0 entitled "Risk Factors" of the Company's annual MD&A for the fiscal year 2021. Many of these risks are beyond Lion's management's ability to control or predict. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained herein and the risk factors included in the Canadian Prospectus Supplement, the US Prospectus Supplement, the Company's annual MD&A for the fiscal year 2021 and in other documents filed with the applicable Canadian regulatory securities authorities and the SEC.

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 Lion Electric

FAQ

Who are the new executives appointed by Lion Electric on August 2, 2022?

Lion Electric appointed Sydney Dunn as Vice President of Truck Sales, U.S. and Dominik Beckman as Vice President of Marketing and Communications, U.S.

What experience does Sydney Dunn bring to Lion Electric?

Sydney Dunn brings over 20 years of sales and operations experience, having previously worked at ElectraMeccanica and General Motors.

What is Dominik Beckman's background before joining Lion Electric?

Dominik Beckman served as an executive at Hino Trucks for six years, overseeing marketing and communications, and has over 20 years of experience in the automotive industry.

How will the new appointments impact Lion Electric's operations?

The new executives are expected to strengthen Lion Electric's U.S. operations and accelerate growth in its trucking division, particularly with the upcoming production of zero-emission vehicles.