LION ELECTRIC INITIATES DELIVERIES OF LIOND, A NEW ALL-ELECTRIC SCHOOL BUS MODEL
- Lion Electric has commenced customer deliveries of the LionD school buses in California, addressing the largest vehicle type within the school bus segment.
- The LionD offers seating capacity for 83 children and a range of up to 155 miles on a single charge, reaffirming Lion's commitment to safe zero-emission transportation.
- The LionD is designed with safety at the forefront, featuring a programmable low-speed sound generator, optimized front windshield, and an ergonomically designed driver cockpit.
- The LionD offers lower energy and maintenance costs compared to traditional diesel-powered school buses.
- Federal, state, and local funding, as well as incentives such as the EPA's Clean School Bus Program and California HVIP, can be applied for to assist with the purchase of a LionD.
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The introduction of the LionD school buses by The Lion Electric Company into the California market is a strategic move that capitalizes on the state's progressive environmental policies and the growing demand for electric vehicles (EVs). The LionD's design caters specifically to the largest segment within the school bus market, potentially positioning Lion as a leader in this niche. By offering a high seating capacity and a considerable range on a single charge, the LionD is likely to appeal to school districts looking to reduce their carbon footprint and operational costs associated with traditional diesel buses.
It's important to note that the shift towards electric school buses is part of a broader trend in the transportation sector towards electrification. This move is supported by various federal, state and local incentives, which can significantly reduce the total cost of ownership for these vehicles. The Lion Electric Company's focus on the school bus segment could provide a competitive advantage, as it aligns with governmental goals to reduce greenhouse gas emissions and protect public health, particularly for children.
Furthermore, the production of the LionD in the United States may resonate with both public sentiment and policy favoring domestic manufacturing. This could enhance the company's brand image and potentially lead to increased market share in the EV space.
The commencement of LionD school bus deliveries represents a potential revenue stream for The Lion Electric Company, which investors will be monitoring closely. With the cost savings in energy and maintenance touted by the company, school districts may see a compelling financial case for transitioning to electric buses. The reduction in greenhouse gas emissions per bus per year also translates to indirect economic benefits through potential tax credits and improved public health outcomes.
Investors will be particularly interested in the production scalability and the company's ability to meet the high demand on the West Coast. The company's vertical integration with LionEnergy for charging infrastructure and LionCapital Solutions for financing assistance could streamline customer acquisition and retention. These complementary services could also serve as additional revenue channels and strengthen customer loyalty.
However, investors should also consider the capital expenditures associated with scaling up production and the risks inherent in the adoption rate of new technologies. The long-term success of the LionD will depend on the reliability of the buses in operation, the total cost of ownership compared to diesel alternatives and the continued availability of government incentives to encourage the adoption of electric school buses.
The deployment of the LionD school buses aligns with environmental initiatives aimed at reducing greenhouse gas emissions and improving air quality. Each electric bus replacing a diesel counterpart can eliminate up to 23 tons of greenhouse gases annually, which is significant when considering the cumulative effect of replacing entire fleets. Additionally, the reduction of particulate emissions from diesel engines is a critical public health issue, particularly for children who are more susceptible to respiratory problems.
From a policy perspective, the support from programs like the EPA's Clean School Bus Program and the California HVIP underscores the government's commitment to facilitating the transition to cleaner transportation. These incentives are crucial in offsetting the higher upfront costs of electric buses and making them a viable option for school districts.
It's also worth noting that the Lion Electric Company's proactive approach to providing comprehensive support services, including assistance with charging infrastructure and funding, reflects an understanding of the systemic barriers to EV adoption. By addressing these challenges, Lion is not only contributing to environmental goals but also setting a precedent for how EV manufacturers can engage with policy frameworks to accelerate market penetration.
The launch of this new model reaffirms Lion's unwavering commitment to safe zero-emission transportation providing cleaner air for children and communities in
"We're excited for customers to deploy their LionDs and experience all that they have to offer. These electric school buses, which are in high demand on the West Coast, are manufactured in
The LionD has been designed with safety at the forefront, as with every product engineered by Lion -- from improved air quality and reduced noise pollution to an extra-wide center aisle making for efficient entry/exiting as well as improved rearward driver visibility. It has a programmable low-speed sound generator, forward visibility optimized front windshield for improved sight of cross traffic and student safety when walking in front of the bus, and an ergonomically designed driver cockpit.
Built on the successful foundation of the all-electric LionC, which has been transporting students across
Purpose-built for electric, the LionD is advantaged by its design with an all-electric powertrain that offers lower energy and maintenance costs compared to traditional diesel-powered school buses. Similar to the LionC, it features rust-free composite body panels, staircase, and low-voltage battery compartment, as well as a modular lower skirt and one-piece seamless fiberglass roof that eliminates thousands of rivets and potential leak points – minimizing service expenses and maximizing uptime.
As with all of Lion's products, school districts and contractors considering the LionD have direct access to the Lion Customer Success team, who are experts in supporting the transition to zero emissions and maximizing customer operational success. The support extends from charging infrastructure with LionEnergy, financing assistance with LionCapital Solutions and funding support services provided by the LionGrants team, to driver/maintenance/safety training from Lion's BrightSquad and proprietary EV telematics with LionBeat.
Currently, federal, state and local funding, and incentives such as the EPA's Clean School Bus Program, California HVIP, the IRA clean commercial vehicle tax credit (IRC 45W) and others can be applied for to assist with the purchase of a LionD.
School districts and fleet customers ready to start their electrification journey are invited to contact Lion Electric at marketing.lion@thelionelectric.com.
To learn more about the LionD visit:
https://pages.thelionelectric.com/liond-the-all-electric-type-d-school-bus-usa/
Lion Electric is an innovative 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. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"), including statements regarding the estimated energy and maintenance costs reduction offered by the LionD, the availability of federal, state and local funding and incentives to assist with the purchase of the LionD, statements about Lion's beliefs and expectations and other statements that are not statements of historical facts. Forward-looking statements may be identified by the use of words such as "believe," "may," "will," "continue," "anticipate," "intend," "expect," "should," "would," "could," "plan," "project," "potential," "seem," "seek," "future," "target" or other similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements may contain such identifying words. The forward-looking statements contained in this press release are based on a number of estimates and assumptions that Lion believes are reasonable when made. Such estimates and assumptions are made by Lion in light of the experience of management and their perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information on estimates, assumptions, risks and uncertainties underlying certain of the forward-looking statements made in this press release, please consult section 23.0 entitled "Risk Factors" of the Company's annual management's discussion and analysis of financial condition and results of operations (MD&A) for the fiscal year 2022 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission, including the Company's interim MD&As. Many of these risks are beyond Lion's management's ability to control or predict. All forward-looking statements attributable to Lion or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained and risk factors identified in the Company's annual MD&A for the fiscal year 2022 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Except as required under applicable securities laws, Lion undertakes no obligation, and expressly disclaims any duty, to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise.
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SOURCE The Lion Electric Co.
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