The Lion Electric Company - LEV STOCK NEWS

The Lion Electric Company (NYSE: LEV) hosted its first analysts and institutional investors' manufacturing site visit in Montreal on September 21, 2021. CEO Marc Bedard and senior management presented the company’s growth strategy and provided insights into their electric vehicle capabilities, including all-electric school buses and trucks. The visit marked a milestone since their public listing on both NYSE and TSX in May 2021. Lion Electric specializes in designing and manufacturing zero-emission vehicles, reinforcing its position as a leader in electric transportation in North America.

The Lion Electric Company (NYSE: LEV) has opened its flagship Experience Centre in Terrebonne, Quebec. This center is part of Lion’s North American network aimed at demonstrating the advantages of all-electric medium and heavy-duty vehicles. Spanning 48,000 sq-ft, it features six service bays and charging stations. Lion also plans to expand its network of Experience Centres and is constructing a battery plant and vehicle manufacturing facility in North America. To date, the company has delivered over 400 electric vehicles, contributing to Quebec's goal of electrifying 65% of school buses by 2030.

Lion Electric Company (NYSE: LEV) is participating in the Run on Less – Electric challenge, showcasing its all-electric trucks in collaboration with Day & Ross. These Lion6 trucks, with a range of 200 miles, will aid in delivery routes in Montreal. This event features 13 fleets to demonstrate the benefits of electric trucking, including reduced emissions and lower ownership costs. Lion has delivered over 400 electric vehicles, totaling over 8 million miles since 2016, establishing its leadership in zero-emission heavy-duty vehicles.

The Lion Electric Company (NYSE: LEV) has announced its participation in several upcoming virtual investor conferences. These include the Raymond James Diversified Industrials Conference on August 25, 2021, the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference on September 10, 2021, the Raymond James Canadian Sustainability Conference on September 14, 2021, and the CIBC 20th Annual Eastern Institutional Investor Conference on September 22, 2021. Investors can access webcasts through the Company’s Investor Relations webpage.

Lion Electric Company (NYSE: LEV) announced on August 20, 2021, that CEO Marc Bedard exercised share options from 2017, acquiring 900,000 common shares, which he subsequently sold on the Toronto and New York Stock Exchanges. The proceeds will primarily be used to repay personal debts linked to past investments in Lion's shares. Post-sale, Bedard's company retains 27,558,653 shares (14.6% of total) while he holds 2,956,375 options. This sale is within a 180-day lock-up period allowing for the sale of up to 1,000,000 shares. The company focuses on zero-emission vehicles.

The Lion Electric Company (LEV) reported its Q2 2021 financial results, delivering 61 vehicles compared to 22 in Q2 2020. Revenue surged to $16.7 million, a 175% increase from $6.1 million last year. However, gross profit declined to $0.9 million due to elevated administrative expenses of $50 million, up from $1.1 million, largely attributed to share-based compensation. The company recorded a net loss of $178.5 million, significantly higher than last year's loss of $1.3 million. Despite the losses, Lion has an order book of 965 vehicles valued at over $280 million and $364.3 million in cash as of June 30, 2021.

The Lion Electric Company (NYSE: LEV) announced its partnership with Pomerleau for the construction of a new battery plant and innovation center in Mirabel, Canada. This facility, expected to begin production in late 2022, will enable Lion to manufacture its own battery modules and packs, significantly reducing costs and supplier dependency. Upon full operation, the plant aims to produce 5 GWh of battery capacity annually, sufficient for approximately 14,000 electric trucks and buses. This strategic move is part of Lion's growth strategy in the electric vehicle market.

The Lion Electric Company (NYSE: LEV) has secured a new revolving credit facility worth US$100 million from a syndicate of lenders, including National Bank of Canada, Bank of Montreal, and Desjardins Capital Markets. CEO Marc Bedard stated that this funding will enhance their liquidity for growth strategies. The facility features a floating interest rate tied to prime rates or LIBOR, and is backed by assets from Lion and its subsidiaries. It includes customary covenants and requires maintaining specific financial ratios.

The Lion Electric Company (NYSE: LEV) has received an order for 35 LionC electric school buses from Prince Edward Island (P.E.I.), joining the existing 12 buses already in operation. The government of Canada and P.E.I. contributed over $6.3 million for this clean transportation project. This move will help P.E.I. operate one of the largest fleets of zero-emission school buses in North America, preventing up to 1,000 tonnes of greenhouse gas emissions annually. With over 390 all-electric vehicles delivered since 2016, Lion continues to lead in the zero-emission heavy-duty vehicle sector.