The Lion Electric Company - LEV STOCK NEWS

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.

The Lion Electric Company (NYSE: LEV) announced that its all-electric trucks qualify for funding through Transport Canada's iMHZEV Program. Customers in Canada can receive up to $150,000 in incentives for purchasing medium and heavy-duty vehicles, contributing to a total federal investment of $550 million over four years. Lion's full range of trucks is eligible, with combined provincial and federal subsidies in Quebec potentially reaching $243,750. The program aims to support the transition to zero-emission vehicles while enhancing public health and environmental quality.

Lion Electric Company (NYSE: LEV) announced it will release its 2022 second quarter results on August 5, 2022, before market opening. A conference call will follow at 8:30 a.m. ET to discuss the results. Interested participants can dial (226) 828-7575 or (833) 950-0062 using Access Code 842480. A live webcast will be available on the company's website under the 'Events and Presentation' section. Lion Electric specializes in manufacturing all-electric commercial vehicles and is a leader in electric transportation.

The Lion Electric Company (NYSE: LEV) announced a new at-the-market (ATM) equity program to issue up to US$125 million in common shares. The program, effective immediately, allows the sale of shares at prevailing market prices through a syndicate of agents. The funds raised will be utilized to strengthen the company's financial position and support growth initiatives, including expansion projects in Joliet, Illinois and Mirabel, Quebec. The equity distribution will terminate by July 16, 2024, or upon the sale of all shares.

Lion Electric Company (NYSE: LEV) announced the filing of a preliminary short form base shelf prospectus with securities regulators in Canada and the SEC for the U.S. This prospectus allows the Company to issue up to US$350 million in various securities over the next 25 months. Following the finalization of the prospectus, Lion intends to establish an 'at-the-market' (ATM) equity program for issuing up to US$125 million in common shares. No securities distribution is currently ongoing, and the ATM program's establishment is subject to market conditions.

The Lion Electric Company (NYSE: LEV) has been recognized in Corporate Knights' inaugural ranking of the 50 fastest-growing sustainable companies in Canada, achieving 9th place for 2021. CEO Marc Bedard emphasized the company's commitment to creating climate-friendly electric vehicles, reflecting its strategy for growth in a clean economy. Lion Electric is noted for manufacturing zero-emission vehicles, including urban trucks and buses. The company is also investing in its U.S. manufacturing facility and Quebec battery plant, which are vital for its future expansion.