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Demers Ambulances and Lion Electric unveiled the Demers eFX Ambulance, the first all-electric, purpose-built ambulance, on October 18, 2021. Set for commercial release in the second half of 2022, this innovative vehicle was developed in collaboration with the Quebec government and NRC IRAP, taking nearly five years. The exclusive agreement anticipates the deployment of at least 1,500 electric ambulances over five years across North America. The design prioritizes paramedic ergonomics and safety, showcasing a significant evolution in ambulance transport.
The Lion Electric Company (NYSE: LEV) will release its 2021 third quarter results on November 10, 2021, after markets close. A conference call is scheduled for November 11, 2021, at 8:30 a.m. ET to discuss these results. Lion Electric specializes in producing all-electric medium and heavy-duty vehicles and is recognized as a leader in electric transportation in North America. The company designs and manufactures essential components for its vehicles, promoting a transition to zero-emission vehicles for improved societal and environmental outcomes.
The Lion Electric Company (NYSE: LEV) announced its participation in several upcoming virtual investor conferences. Notable events include the Scotiabank Transportation & Industrials Conference on November 16, 2021, and the Barclays Global Automotive and Mobility Tech Conference on November 18, 2021. Lion Electric specializes in manufacturing all-electric medium and heavy-duty urban vehicles, focusing on zero-emission solutions for commercial transport. The company's innovative vehicles feature adaptations tailored to user needs, reinforcing its position as a leader in North American electric transportation.
The Lion Electric Company (NYSE: LEV) hosted its first analysts and institutional investors' manufacturing site visit in Montreal on September 21, 2021. CEO Marc Bedard and senior management presented the company’s growth strategy and provided insights into their electric vehicle capabilities, including all-electric school buses and trucks. The visit marked a milestone since their public listing on both NYSE and TSX in May 2021. Lion Electric specializes in designing and manufacturing zero-emission vehicles, reinforcing its position as a leader in electric transportation in North America.
The Lion Electric Company (NYSE: LEV) has opened its flagship Experience Centre in Terrebonne, Quebec. This center is part of Lion’s North American network aimed at demonstrating the advantages of all-electric medium and heavy-duty vehicles. Spanning 48,000 sq-ft, it features six service bays and charging stations. Lion also plans to expand its network of Experience Centres and is constructing a battery plant and vehicle manufacturing facility in North America. To date, the company has delivered over 400 electric vehicles, contributing to Quebec's goal of electrifying 65% of school buses by 2030.
Lion Electric Company (NYSE: LEV) is participating in the Run on Less – Electric challenge, showcasing its all-electric trucks in collaboration with Day & Ross. These Lion6 trucks, with a range of 200 miles, will aid in delivery routes in Montreal. This event features 13 fleets to demonstrate the benefits of electric trucking, including reduced emissions and lower ownership costs. Lion has delivered over 400 electric vehicles, totaling over 8 million miles since 2016, establishing its leadership in zero-emission heavy-duty vehicles.
The Lion Electric Company (NYSE: LEV) has announced its participation in several upcoming virtual investor conferences. These include the Raymond James Diversified Industrials Conference on August 25, 2021, the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference on September 10, 2021, the Raymond James Canadian Sustainability Conference on September 14, 2021, and the CIBC 20th Annual Eastern Institutional Investor Conference on September 22, 2021. Investors can access webcasts through the Company’s Investor Relations webpage.
Lion Electric Company (NYSE: LEV) announced on August 20, 2021, that CEO Marc Bedard exercised share options from 2017, acquiring 900,000 common shares, which he subsequently sold on the Toronto and New York Stock Exchanges. The proceeds will primarily be used to repay personal debts linked to past investments in Lion's shares. Post-sale, Bedard's company retains 27,558,653 shares (14.6% of total) while he holds 2,956,375 options. This sale is within a 180-day lock-up period allowing for the sale of up to 1,000,000 shares. The company focuses on zero-emission vehicles.
The Lion Electric Company (LEV) reported its Q2 2021 financial results, delivering 61 vehicles compared to 22 in Q2 2020. Revenue surged to $16.7 million, a 175% increase from $6.1 million last year. However, gross profit declined to $0.9 million due to elevated administrative expenses of $50 million, up from $1.1 million, largely attributed to share-based compensation. The company recorded a net loss of $178.5 million, significantly higher than last year's loss of $1.3 million. Despite the losses, Lion has an order book of 965 vehicles valued at over $280 million and $364.3 million in cash as of June 30, 2021.
The Lion Electric Company (NYSE: LEV) announced its partnership with Pomerleau for the construction of a new battery plant and innovation center in Mirabel, Canada. This facility, expected to begin production in late 2022, will enable Lion to manufacture its own battery modules and packs, significantly reducing costs and supplier dependency. Upon full operation, the plant aims to produce 5 GWh of battery capacity annually, sufficient for approximately 14,000 electric trucks and buses. This strategic move is part of Lion's growth strategy in the electric vehicle market.
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