Globe & Mail 08:15 AM EDT, 10/25/2021 (MT Newswires) -- Lion Electric (LEV.TO) was last seen up 4.5% in premarket New York trading after the company on Monday said it won a conditional order for 1,000 electric school buses from Student Transportation of Canada.
The company said the buses will be delivered between 2022 and 2026. No financial value for the order was disclosed.
Lion Electric said the order is conditional on Student Transportation receiving a "satisfactory" grant from Canada's Zero-Emission Transit Fund, which supports the replacement of the public transit fleet with zero-emission vehicles. The company, controlled by the Caisse de depot et placement du Quebec, currently uses diesel buses.
"This large-scale deployment would position Canada as a clear leader in the electrification of school transportation," Marc Bedard, Lion's chief executive, said in a release.
Lion shares were last seen up US$0.54 to US$12.50 premarket. The shares closed down C$0.24 to C$14.75 Friday on the Toronto Stock Exchange.