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Bullboard - Stock Discussion Forum Lion Electric Ord Shs T.LEV

Alternate Symbol(s):  LEVGQ | T.LEV.WT | LEVWQ | T.LEV.WT.A | LEGWQ

The Lion Electric Company is a manufacturer of zero-emission vehicles. The Company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric school buses. It is engaged in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies. Each Lion vehicle is... see more

TSX:LEV - Post Discussion

Lion Electric Ord Shs > Globe December 8
View:
Post by Tim2Agami on Jan 09, 2025 2:29pm

Globe December 8

Quebec electric-vehicle maker Lion Electric Co. LEV-T wants to pause building trucks and focus instead on school buses as part of a restructuring plan that would return all manufacturing operations to the province.

The struggling company, which entered creditor protection last month and is seeking a buyer, has halted operations and laid off most of its workers.

But a pitch distributed to potential buyers says the business could be profitable if it produces 550 electric buses a year at its manufacturing plant in St-Jerome, Que., northeast of Montreal. That would represent about one-fifth of the plant’s capacity of 2,500 vehicles a year.

A report filed in Quebec Superior Court on Friday says 136 potential buyers have been approached since Lion Electric obtained protection from its creditors on Dec. 19, as well as 11 firms that could be interested in acquiring company assets on a piecemeal basis.

The company went through several rounds of layoffs in 2024 and shut down production at a plant in Illinois in December. It announced further layoffs last week and said its remaining 160 workers would focus on helping clients with the maintenance of school buses and trucks.

“Lion Electric’s recovery plan proposes to focus on its electric school buses and temporarily pause its electric truck manufacturing activities, but will continue to support its customers with service and parts distribution,” spokesperson Patrick Gervais said Wednesday in an e-mail statement.

According to the document for potential buyers, Lion Electric currently has about 2,200 vehicles on the road and a 33 per cent market share of electric school buses across North America, with deliveries in 28 states and six provinces. The company says it also has 135 completed buses and trucks on hand, and 50 buses that are 90 per cent complete.

A judge on Tuesday extended Lion Electric’s creditor protection until Feb. 14. The company is planning to finalize a deal in April.

https://www.theglobeandmail.com/business/article-lion-electric-plans-to-focus-on-buses-rather-than-trucks-in-bid-to/

Comment by Tim2Agami on Jan 09, 2025 2:31pm
Correction: Globe January 8
Comment by Yes111111111111 on Jan 10, 2025 5:41am
Piece meal basis. Anyone with half a brain knows that that means 5 to 10 cents on the dollar. P went through it with a family business.....bargaining from weakness is never good. Marc Bedard, however kinda did okay. Marc & his numbered company sold a bit over $50,000,000 in stock. Rosen Law Group are on it.   https://rosenlegal.com/case/northern-genesis-acquisition-corp-n-k-a-the ...more  
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