Truck and bus maker Lion Electric may find new Canadian investor (thus avoiding bankruptcy)
Canadian authorities are apparently open to the takeover. The truck maker started to reduce workforce already in 2023, with 30% of the overall people working for the companies left at home in the summer of 2024.
According to Electrive, in turn quoting Bloomberg, Canadian truck & bus maker Lion Electric may be helped by new investor to avoid going into bankruptcy. At the beginning of this year, the company had announced the will to focus only on the bus business after struggling with serious financial problems due to the slowdown in e-vehicle business.
Lion Electric may be rescued by new investor
Indeed, Lion Electric is insolvent. Electrive reports that “a group of investors led by property magnate Vincent Chiara from Montreal will take over the company and provide new capital”. Canadian authorities are apparently open to the takeover. The truck maker started to reduce workforce already in 2023, with 30% of the overall people working for the companies left at home in the summer of 2024.
At last year’s ACT Expo, the truck maker introduced a brand-new 7.5-ton electric truck. Lion was not able to participate in this year’s edition (here’s our report written from California).
