The Lion Electric Company - LEV STOCK NEWS

Lion Electric Company (NYSE: LEV) has announced the upcoming release of its first quarter 2023 financial results, scheduled for May 9, 2023, before market opening. Following the announcement, a conference call will take place at 8:30 a.m. Eastern Time to discuss the results. Interested parties can participate by dialing (226) 828-7575 or toll-free at (833) 950-0062, using Access Code 973203. A live webcast will also be available on the company’s website, with an archive accessible shortly after the event.

Lion Electric is a key player in the manufacturing of all-electric medium and heavy-duty urban vehicles, focusing on zero-emission solutions. The company designs and assembles various vehicle components, highlighting its commitment to transitioning to all-electric transportation.

The Lion Electric Company (NYSE: LEV) has inaugurated its new battery manufacturing facility in Mirabel, Quebec, marking a significant milestone for the company. This state-of-the-art 175,000 square feet factory is the first of its kind in Canada and aims to produce lithium-ion batteries for medium and heavy-duty vehicles. The facility is expected to reach a production capacity of 1.7 gigawatt hours by the end of 2023, with a long-term goal of 5 gigawatt hours. This capacity will support the manufacturing of approximately 14,000 electric vehicles annually. The project, supported by a $50 million government loan, is set to create 135 high-paying jobs in Quebec, enhancing Lion's competitive position in the North American electric transportation market.

Lion Electric Company (NYSE: LEV) has announced its participation in upcoming investor conferences, showcasing its commitment to electric vehicle innovation. Key events include the 2023 Desjardins Montreal Conference on March 21, 2023, the 3rd HSBC Future Transport Week on March 22, 2023, and the Bank of America 2023 Automotive Summit on April 4, 2023. These conferences will provide platforms for Lion Electric to engage with investors and promote its all-electric medium and heavy-duty vehicles. The company's shares trade on the NYSE and TSX under the symbol LEV. For webcast links, visit thelionelectric.com.

The Lion Electric Company (NYSE: LEV) reported its financial results for Q4 and fiscal year 2022, ending December 31, 2022. In Q4, vehicle deliveries reached 174, up from 71, with revenues of $46.8 million, a significant increase from $22.9 million in Q4 2021. However, the company posted a gross loss of $4.8 million, compared to last year's gross profit of $2.2 million, and a net loss of $4.6 million, contrasting with net earnings of $28.3 million in Q4 2021. For the full year, revenues rose to $139.9 million, up from $57.7 million, but the company experienced a gross loss of $12.9 million. Lion's order book included 2,468 vehicles valued at approximately $575 million as of March 2023.

The Lion Electric Company (NYSE: LEV) will announce its fourth quarter and fiscal year 2022 results on March 10, 2023, before market opening. A conference call is scheduled for 8:30 a.m. Eastern Time on the same day to discuss these results. Lion Electric, a leader in all-electric medium and heavy-duty vehicles, designs and manufactures a range of zero-emission vehicles, including urban trucks and buses. The company is committed to electric transportation to improve societal and environmental quality. Lion shares are traded on both the New York and Toronto Stock Exchanges under the symbol LEV.

Lion Electric Company (NYSE: LEV) has announced a partnership with Mitsubishi HC Capital Canada and ENGS Commercial Finance Co. to offer financing solutions for its all-electric school buses and trucks in the U.S. and Canada. Through LionCapital Solutions, the agreement allows for up to 100% financing of fleet electrification costs, including vehicles and charging infrastructure. The collaboration emphasizes sustainable transportation and aims to make financing more accessible for customers seeking electric vehicles. Leaders from both companies highlighted their commitment to electric mobility and the significance of this partnership in advancing clean transportation solutions.

Lion Electric Company (NYSE: LEV) has completed a sale-leaseback transaction with BTB Real Estate Investment Trust for its battery manufacturing building in Mirabel, Quebec, valued at C$28 million. The proceeds will help repay outstanding amounts on its revolving credit facility and cover transaction expenses. The company has entered a 20-year lease for the facility, which will not affect its operations there, while the innovation center remains owned by Lion. RBC Capital Markets acted as the exclusive real estate advisor for this transaction.