Lion Electric, facing over $411 million in debts and having filed for creditor protection in December 2024, is offered a potential lifeline by a group of investors led by Vincent Chiara. This comes after a previous government support collapse. The investors' current proposal is backed by a renewed subsidy program for electric school buses, crucial for Lion as the only Canadian manufacturer in this segment. The revised deal is currently under court review, with a decision anticipated soon, indicating a possible rescue from liquidation.
"According to court documents, the buyers have reached an agreement with the Quebec government to renew a recently expired subsidy program for electric school buses."
"Without that funding, the company's court monitor had warned liquidation was likely. Now, with government incentives reinstated, the revised proposal is under court review."
Collection
[
|
...
]