The Lion Electric Company - LEV STOCK NEWS

The Lion Electric Company (NYSE: LEV) has secured its new production facility in Joliet, Illinois, expected to be the largest site for zero-emission medium and heavy-duty vehicles in the U.S. upon completion. With an anticipated annual capacity of 20,000 vehicles, this facility will create approximately 1,400 clean energy jobs over the next four years. Additionally, Lion has appointed Richard Coulombe as Senior VP for Strategic Initiatives and Eric Pansegrau as General Manager of the Joliet Plant, both key to driving the company's growth as production begins in 2022.

Lion Electric Company (NYSE: LEV) announced a conditional purchase order for 200 all-electric LionC school buses from Langs Bus Lines, with deliveries scheduled from 2022 to 2026. The order's fulfillment is dependent on obtaining grants from the Canadian government's Zero-Emission Transit Fund, which allocates $2.75 billion over five years for the electrification of public transit. This partnership aims to enhance sustainable transportation options in Ontario and reflects growing momentum for zero-emission vehicles in the region.

Lion Electric Company (NYSE: LEV) announced its addition to the S&P/TSX Composite Index effective December 20, 2021. This milestone is significant for the company as it enhances its visibility to more investors and improves stock liquidity. The S&P/TSX Composite Index is a key benchmark in the Canadian equity market, indicating Lion's growing presence in electric transportation. CEO Marc Bedard highlighted that this inclusion could potentially broaden the investor base through index funds.

Lion Electric Company (NYSE: LEV) announced a conditional order for 55 all-electric school buses from Groupe Autobus Séguin, including 45 LionA and 10 LionC models, set for delivery by 2025. This follows a previous order of 60 vehicles in January 2021, of which 10 are currently operational. The new order is contingent upon funding from the Quebec government's School Transportation Electrification Program and the Canadian federal government's Zero Emission Transit Fund. The collaboration emphasizes Lion's role in advancing zero-emission transportation in Quebec.

The Lion Electric Company (NYSE: LEV) reported significant growth in Q3 2021, delivering 40 vehicles, a notable increase from 10 in Q3 2020. Revenue surged to $11.9 million, up from $2.6 million last year. Despite the revenue boost, gross profit was negative $1.2 million, worsening from negative $0.5 million in Q3 2020. Lion's net earnings reached $123 million, largely due to a $138.4 million gain from share warrant obligations. Ongoing challenges from the global supply chain were acknowledged, and Lion's vehicle order book stands at 2,024 units valued at approximately $500 million.

The Lion Electric Company (NYSE: LEV) has secured a purchase order from Groupe Autocar Jeannois for 39 all-electric vehicles over five years, including 35 LionC school buses and 4 LionM buses. The order also includes an option for five additional LionC buses. Additionally, Jeannois will establish the first Lion authorized service center in Saguenay-Lac-St-Jean, enhancing service accessibility in Quebec. This partnership aims to advance electrification efforts, ensuring a sustainable transportation option for communities in the region.

The Lion Electric Company (NYSE: LEV) announced a conditional order for 1,000 all-electric LionC school buses from Student Transportation of Canada. This order is contingent upon STC receiving grants from Infrastructure Canada's Zero-Emission Transit Fund, which aims to invest $2.75 billion in transitioning to electric public transport over five years. If fulfilled, STC would become North America's largest zero-emission school bus operator, eliminating approximately 23,000 tons of greenhouse gas emissions annually. Deliveries are expected from 2022 to mid-2026.

Demers Ambulances and Lion Electric unveiled the Demers eFX Ambulance, the first all-electric, purpose-built ambulance, on October 18, 2021. Set for commercial release in the second half of 2022, this innovative vehicle was developed in collaboration with the Quebec government and NRC IRAP, taking nearly five years. The exclusive agreement anticipates the deployment of at least 1,500 electric ambulances over five years across North America. The design prioritizes paramedic ergonomics and safety, showcasing a significant evolution in ambulance transport.

The Lion Electric Company (NYSE: LEV) will release its 2021 third quarter results on November 10, 2021, after markets close. A conference call is scheduled for November 11, 2021, at 8:30 a.m. ET to discuss these results. Lion Electric specializes in producing all-electric medium and heavy-duty vehicles and is recognized as a leader in electric transportation in North America. The company designs and manufactures essential components for its vehicles, promoting a transition to zero-emission vehicles for improved societal and environmental outcomes.