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The Lion Electric Company - LEV STOCK NEWS

Welcome to our dedicated page for The Lion Electric Company news (Ticker: LEV), a resource for investors and traders seeking the latest updates and insights on The Lion Electric Company stock.

The Lion Electric Company (NYSE: LEV, TSX: LEV) is a leading manufacturer of all-electric medium and heavy-duty urban vehicles, including battery systems, chassis, bus bodies, and truck cabins. Founded in 2008 by Marc Bedard and Camille Chartrand, Lion aims to meet the unmet needs of North American transportation by providing advanced, zero-emission vehicles.

Initially specializing in electric school buses, Lion has expanded its portfolio to include commercial trucks. The company designs, develops, manufactures, and distributes purpose-built electric urban vehicles, which are renowned for their innovation, reliability, and competitive pricing.

Headquartered in Montreal, Lion operates manufacturing facilities in Canada and the United States, with its revenue primarily generated from Canadian operations. Lion's team consists of dynamic and experienced professionals from leading transportation companies, ensuring high-quality production and continuous innovation.

Some of Lion's recent achievements include the commercial production of the LionD electric school bus and the Lion5 electric truck. Lion has also initiated cost-reduction measures and enhanced operational efficiency, despite facing challenges such as delays in governmental subsidies and market volatility.

Financial Performance: For the fiscal year 2023, Lion reported a revenue increase of $113.6 million compared to 2022, primarily driven by higher vehicle sales volumes. However, the company also faced a net loss of $103.8 million due to increased costs and inventory write-downs.

Latest Developments:

  • February 15, 2024: Lion announced its Q4 2023 financial results and a temporary layoff of 100 employees to streamline costs.
  • April 23, 2024: Lion announced its Q1 2024 financial results, including a workforce reduction aimed at further cost savings.
  • May 8, 2024: Lion reported its Q1 2024 financial results and plans to ramp up deliveries of LionD and Lion5 models.
  • May 21, 2024: Lion unveiled the Lion8 Tractor, an all-electric Class 8 commercial truck, setting new benchmarks in EV truck performance and efficiency.
News

California Energy Commission Awards a $3 Million Grant to BorgWarner, Fermata Energy and Lion Electric for Innovative Vehicle-to-Grid Project with Bus Operator American Transportation to Service Student Transportation for California School Districts

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California Energy Commission awards BorgWarner, Fermata Energy, and Lion Electric a $3M grant for innovative Vehicle-to-Grid project to support American Transportation Systems Bus Company, aiming to enhance grid reliability and decarbonize California's energy grid.
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Lion Electric Honored with mHUB Chicago';s Manufacturer of the Year Award

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The Lion Electric Company, a prominent manufacturer of all-electric medium and heavy-duty urban vehicles, was honored as mHUB Chicago's Manufacturer of the Year at the 2024 Fourth Revolution annual celebration. Lion Electric has over 1,850 zero-emission vehicles on the road, with 22 million miles of real-world operation in the U.S. and Canada. The company opened a new 900,000 square-foot facility in Joliet, Illinois, investing over $100 million in the state. Lion Electric started production and deliveries of its electric LionD school bus and Lion5 commercial truck, contributing to clean energy transportation job growth in the U.S.
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LION ANNOUNCES UPCOMING PARTICIPATION AT INVESTOR CONFERENCE

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The Lion Electric Company to Present at 36th Annual ROTH Conference in March 2024
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LION ELECTRIC ANNOUNCES FOURTH QUARTER AND FISCAL 2023 RESULTS

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The Lion Electric Company (LEV) reported its financial results for Q4 2023 and FY 2023, showcasing revenue growth, increased vehicle deliveries, and operational highlights. Despite revenue growth and record vehicle deliveries, the company faced challenges resulting in a net loss and gross losses. The decision to delay commercial production of certain minibuses impacted financials negatively.
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LION ELECTRIC ANNOUNCES FOURTH QUARTER AND FISCAL 2023 RESULTS RELEASE DATE

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The Lion Electric Company (LEV) will release its Q4 and FY 2023 results on February 29, 2024, with a conference call and webcast to discuss the results. Investors can participate via phone or webcast.
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LION ELECTRIC INITIATES DELIVERIES OF LIOND, A NEW ALL-ELECTRIC SCHOOL BUS MODEL

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The Lion Electric Company (LEV) has commenced customer deliveries of its newly-launched LionD school buses in California, offering seating capacity for 83 children and a range of up to 155 miles on a single charge. The launch reaffirms Lion's commitment to safe zero-emission transportation, eliminating up to 23 tons of greenhouse gas emissions per year. The LionD is designed with safety at the forefront, featuring a programmable low-speed sound generator, optimized front windshield, and an ergonomically designed driver cockpit. It also offers lower energy and maintenance costs compared to traditional diesel-powered school buses.
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LION AWARDED $38 MILLION AS PART OF THE EPA';S LATEST ROUND OF CLEAN SCHOOL BUS PROGRAM FUNDING

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The Lion Electric Company (NYSE: LEV) (TSX: LEV) was awarded a $38 million grant for 97 electric school buses and related charging infrastructure under the U.S. EPA's Clean School Bus Program. This represents a significant opportunity for Lion to expand its presence in the electric vehicle market and contribute to reducing greenhouse gas emissions. Lion continues to assist clients with funding opportunities and is currently accepting applications for the 2023 Clean School Bus Rebate Program, with the EPA expecting to award at least $500 million in funding by April 2024.
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Lion Electric Announces Successful Final Certification of its LionBattery MD Battery Pack

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The Lion Electric Company (NYSE: LEV) (TSX: LEV) has announced the successful final certification for its medium duty battery pack, the LionBattery MD, designed for the Company's medium duty trucks and school buses. The certification showcases Lion's cutting-edge capabilities and underscores their commitment to quality control and safety. With an annual manufacturing capacity of 1.7 gigawatt hours, Lion's state-of-the-art battery production facility can power 5,000 of Lion's commercial vehicles per year.
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LION ELECTRIC ANNOUNCES WORKFORCE REDUCTION TO RATIONALIZE COST STRUCTURE

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The Lion Electric Company (LEV) announced a 10% reduction in its workforce, affecting 150 employees across production, manufacturing, product development, and administrative functions in Canada and the United States.
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Synop Announces Partnership with Lion Electric to Provide Energy Management Software for Bus and Truck Customers

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Lion Electric Company (NYSE: LEV) (TSX: LEV) partners with Synop, a leading platform for electric vehicle (EV) fleet solutions, to integrate vehicle, charging, and energy management solutions with LionBeat telematics offering. Synop's technology empowers customers to efficiently manage infrastructure, make informed decisions, and potentially generate added revenue through advanced vehicle-to-grid (V2G) technology.
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FAQ

What is the current stock price of The Lion Electric Company (LEV)?

The current stock price of The Lion Electric Company (LEV) is $0.25 as of December 17, 2024.

What is the market cap of The Lion Electric Company (LEV)?

The market cap of The Lion Electric Company (LEV) is approximately 56.6M.

What does The Lion Electric Company do?

Lion designs, develops, manufactures, and distributes all-electric medium and heavy-duty urban vehicles, including battery systems, chassis, bus bodies, and truck cabins.

Where is Lion Electric headquartered?

Lion is headquartered in Montreal, Canada.

What are Lion's latest financial results?

For the fiscal year 2023, Lion reported a revenue increase of $113.6 million compared to 2022, but also faced a net loss of $103.8 million due to increased costs and inventory write-downs.

What recent products has Lion Electric launched?

Lion recently launched the LionD electric school bus and the Lion5 electric truck. They also unveiled the Lion8 Tractor, an all-electric Class 8 commercial truck in May 2024.

What are Lion's recent achievements?

Lion's recent achievements include the commercial production of the LionD electric school bus and Lion5 electric truck, and the launch of the Lion8 Tractor.

How does Lion Electric contribute to environmental sustainability?

Lion contributes to environmental sustainability by manufacturing zero-emission, all-electric vehicles, reducing the carbon footprint in urban transportation.

What challenges has Lion faced recently?

Lion has faced challenges such as delays in governmental subsidies and a volatile market environment, impacting their cost structure and delivery schedules.

What cost-cutting measures has Lion implemented?

Lion has implemented workforce reductions and other cost-cutting measures, including reducing third-party inventory logistics, lease expenses, consulting, product development, and professional fees.

What is Lion's market presence?

Lion has a significant market presence in both Canada and the United States, with a growing number of electric vehicles on the road.

How can customers contact Lion Electric?

Customers can contact Lion Electric at marketing.lion@thelionelectric.com for inquiries related to their products and services.

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The Lion Electric Company

NYSE:LEV

LEV Rankings

#4816 Ranked by Market Cap
N/A Ranked by Dividends

LEV Stock Data

56.55M
120.01M
46.19%
5.43%
1.3%
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