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Lion Electric Announces the Construction of its Battery Manufacturing Plant and Innovation Center in Quebec
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MONTREAL, March 15, 2021 /PRNewswire/ - Lion Electric (Lion), an innovative manufacturer of all-electric trucks and buses, announced today the construction of a battery manufacturing plant and innovation center in Quebec.
Utilizing cutting-edge technology, the factory is planned to begin operations in early 2023 and will produce battery packs and modules made from Lithium-ion cells. Construction is projected to break ground over the next few months at a location to be confirmed in the near future.
The project and its development represent an investment of approximately $185 million CAD by Lion, who will benefit from important support by the federal and provincial governments of approximately $100 million CAD (amounting to $50 million CAD each). With the construction of the plant, Lion predicts to see a considerable re
Northern Genesis Acquisition Corp. (NGA) Shares Rocket Higher as Lion Electric Is Set To Receive Major Support From the Canadian Government Mar 15, 2021 06:11 EDT
Lion Electric, a Canadian company that specializes in electric powertrains and commercial EVs, is set to receive a major concession from the Canadian government today.
As per the itinerary of Prime Minister Justin Trudeau, a major announcement is scheduled for 10:30 a.m. (Canada time):
Crucially, the President and Founder of Lion Electric, Marc Bédard, will join Mr. Trudeau at today’s event. According to the Canadian media reports, Lion Electric is set to receive around $180 million in government funding – in the form of a grant and forgivable loan – to establish a battery manufacturing facility. While the exact location has not yet been confirmed, readers should note that Lion Electric has already leased 450,000 sq. ft. of land in Saint-Jerome. This lease is, however, conditional upon Lion Electric meeting