Lion Electric, a Quebec-based manufacturer of electric school buses and trucks, is approaching liquidation after the provincial government denied further investment. With debts surpassing $411 million, the company filed for creditor protection and laid off most of its staff. A funding request from potential buyers was rejected, complicating attempts at restructuring. Government officials, including Premier François Legault, expressed concerns about the need for increased private sector engagement and the impact of shifting U.S. policies on Quebec's electrification initiatives.
The prospect of a restructuring or sale for Lion Electric has effectively ended, as the Quebec government ruled out further investment in the company.
Economy Minister Christine Fréchette emphasized the need for more private sector involvement, which influenced the decision against supporting Lion Electric any further.
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