The Lion Electric Company - LEV STOCK NEWS

The Lion Electric Company (NYSE: LEV) applauds the U.S. EPA for its Clean School Bus Program, which has awarded funding totaling $965 million to deploy electric school buses across the U.S. Lion Electric has been a pioneer in all-electric school buses, deploying over 700 vehicles since 2016. With a planned capacity of 20,000 vehicles annually at its Joliet, Illinois facility, Lion aims to significantly impact the transition to zero-emission transportation, helping improve air quality in underserved communities.

The Lion Electric Company (NYSE: LEV) has announced the release date for its 2022 third quarter results, set for November 10, 2022, before market opening. A conference call will follow at 8:30 a.m. ET to discuss the financial results. Participants can join via phone or access a live webcast through Lion's investor website. Lion Electric specializes in manufacturing all-electric medium and heavy-duty vehicles, positioning itself as a leader in the zero-emission transportation sector.

Lion Electric Company (NYSE: LEV) announced the U.S. EPA's remarkable success with its Clean School Bus Program, which has nearly doubled its funding to almost $1 billion. This increase follows overwhelming demand, with around 2,000 applications totaling nearly $4 billion submitted for the initial $500 million funding. Lion, a leader in all-electric school buses, has over 600 buses deployed since 2016. The company offers substantial funding support for electric buses, with potential rebates of up to $375,000 per bus for priority districts.

On August 30, 2022, CEO-Founder Marc Bedard of Lion Electric Company (LEV) acquired 50,000 common shares at C$4.99 per share, totaling C$249,950. Prior to this transaction, Bedard owned approximately 15.2% of the issued common shares, amounting to 26,458,653 shares and 2,877,641 options. Following the acquisition, his ownership increased slightly to 26,508,653 shares. The shares were acquired for personal investment purposes, with potential for future acquisitions or disposals based on market conditions.

The Lion Electric Company (NYSE: LEV) hosted a significant event at its upcoming manufacturing facility in Joliet, Illinois, attended by notable political figures, including Senator Dick Durbin and Governor J.B. Pritzker. The gathering highlighted the company’s commitment to producing all-electric school buses and commercial vehicles, with manufacturing expected to start by the end of 2022. The event emphasized the financial backing from the federal government aimed at clean manufacturing and electric vehicle adoption, including $5 billion for clean school buses and $7.5 billion for charging infrastructure.

The Lion Electric Company (NYSE: LEV) announced its participation in two upcoming investor conferences. The Canaccord 42nd Annual Growth Conference will take place on August 11, 2022, in Boston, while the D.A. Davidson 21st Annual Diversified Industrials & Services Conference is scheduled for September 22-23, 2022, in Nashville. Lion Electric, a manufacturer of all-electric medium and heavy-duty urban vehicles, aims to promote its zero-emission vehicles at these forums. Webcast links will be available on their Investor Relations website.

The Lion Electric Company (LEV) reported its Q2 2022 financial results, delivering 105 vehicles, up from 61 in Q2 2021. Revenue increased to $29.5 million from $16.7 million, though a gross loss of $3.5 million was reported compared to a gross profit of $0.9 million a year earlier. Net earnings reached $37.5 million, influenced by a $56.9 million gain from share warrant obligations. Capital expenditures rose to $44.3 million amid ongoing global supply chain challenges. Lion has a vehicle order book of 2,357 units worth approximately $575 million as of August 4, 2022.

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.

The Lion Electric Company (NYSE: LEV) participated in a roundtable with U.S. Secretary of Energy Jennifer Granholm and Illinois Congressman Bill Foster on July 27, 2022. The discussion centered on deploying zero-emission heavy-duty vehicles and infrastructure to tackle climate change. Lion highlighted its role in the electrification of transportation, boasting over 10 million miles driven by its all-electric vehicles since 2016. Granholm emphasized $62 billion allocated for clean energy and infrastructure, with a focus on electric vehicle charging and carbon capture initiatives.