MONTREAL, Sept. 7, 2021 /PRNewswire/ - The Lion
Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"),
a leading manufacturer of all-electric medium and heavy-duty urban
vehicles, today announced its flagship Experience Centre in
Terrebonne, Quebec. The
announcement has been made with Lion CEO – Founder, Marc Bedard, and the Mayor of Terrebonne, Marc-André Plante.
The newest location in Lion's North American network of
Experience Centres is designed to showcase the benefits of Lion's
heavy-duty electric vehicles and demonstrate the benefits 100%
electric trucks and buses can deliver in terms of performance,
quality and ease of maintenance. Lion's Experience Centres offer
customers a one-stop shop with access to all the equipment and
resources needed to transition towards an all-electric fleet, while
demonstrating the reliability and real-world performance of its
medium and heavy-duty trucks. In addition to Lion's vehicles, this
new Experience Centre serves as a showcase for LionEnergy's
charging infrastructure solutions and the innovative telematics
technology of LionBeat, among other products and services.
A Blueprint for Lion's Growing Network of Experience
Centres
Lion's Terrebonne Experience Centre serves as a
one-stop-shop for the distribution of vehicles, repair,
maintenance, shipping spare parts and more. The Experience Centre
has been designed to optimize product demonstration and training
and is the home base of a customer support team that incorporates
of some of the best transportation electrification expertise in
North America.
This Experience Centre measures approximately 48,000 sq-ft,
including six service bays, a large array of LionEnergy vehicle
charging stations, four garage doors for service, as well as a
large office space.
The Terrebonne Experience Centre – now Lion's 8th
location in North America –
becomes the blueprint for subsequent facilities as Lion continues
to expand its network of Experience Centres in Canada and the U.S.. Lion is therefore
establishing the first and largest network of zero-emission service
and training Centres entirely dedicated to the electrification of
medium and heavy-duty transportation in North America.
All-in on Electrification
Today's announcement is
just one example of Lion's rapid growth. Lion recently announced
the construction of a battery plant and an innovation centre in
Mirabel, Quebec, which plans to
produce batteries as early as the second half of 2022. Last March,
Lion also announced the construction of a vehicle manufacturing
plant in the United States which
is expected to produce its first vehicles on a similar
schedule.
Additionally, the government of Quebec has set a goal of electrifying 65% of
school buses in the province by 2030. Lion sees this announcement
as a highly ambitious endeavour that will benefit Quebec's economy and environment.
To date, the company has delivered more than 400 all-electric
heavy-duty vehicles in North
America, with more than 13 million kilometers driven since
2016. All of Lion's vehicles are specifically designed for electric
propulsion from the ground up and are currently manufactured at
Lion's North American plant, which has a production capacity of
2,500 electric buses and trucks per year.
Quotes
« We are very pleased to welcome Lion to Terrebonne. Lion brings with it a positive
impact on our economy as well as our environment. We are confident
that the Experience Centre will be a model and inspiration for the
clean transportation industry in our city and our region.
Congratulations to Lion for all its efforts and the work done so
far, we look forward to seeing 100% electric buses and trucks on
our local roads today and into the future! »
— Mr. Marc-André Plante, mayor of Terrebonne
« The opening of this 8th Experience Centre is a new and
important step in Lion's continued growth. This centre not only
allows us to demonstrate the capabilities and strengths of our
vehicles, but also brings us closer to our customers. At Lion we
find it extremely important to work closely alongside our clients
in their transition towards electrification and this centre helps
us to do just that, with all of our services under one roof. We are
proud to continue to be a leader in electrification not far from
home here in Terrebonne».
— Marc Bédard, President and Founder, Lion Electric
ABOUT LION ELECTRIC
Lion Electric is an innovative manufacturer
of zero-emission vehicles. The company creates, designs
and manufactures all-electric class 5 to class 8 commercial
urban trucks and all-electric buses and minibuses for the school,
paratransit and mass transit segments. Lion is a North
American leader in electric transportation and designs, builds
and assembles all the key components of its vehicles, including
chassis, battery packs, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion
vehicles have unique features that are specifically adapted to its
users and their everyday needs. Lion believes that transitioning to
all-electric vehicles will lead to major improvements in our
society, environment and overall quality of life. Lion shares are
traded on the New York Stock Exchange and the Toronto Stock
Exchange under the symbol LEV.
Lion Electric, The Bright Move
Thelionelectric.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities laws. Any
statements contained in this press release that are not statements
of historical fact, including statements about Lion's beliefs and
expectations, are forward-looking statements and should be
evaluated as such.
Forward-looking statements may be identified by the use of words
such as "believe," "may," "will," "continue," "anticipate,"
"intend," "expect," "should," "would," "could," "plan," "project,"
"potential," "seem," "seek," "future," "target" or other similar
expressions and any other statements that predict or indicate
future events or trends or that are not statements of historical
matters, although not all forward-looking statements contain such
identifying words.
The Company made a number of economic, market and operational
assumptions in preparing and making certain forward-looking
statements contained in this press release including, but not
limited to, that Lion will be able to retain and hire key personnel
and maintain relationships with customers, suppliers and other
business partners, that Lion will continue to operate its business
in the normal course, that Lion will be able to implement its
growth strategy, that Lion will be able to successfully and timely
complete the construction of its U.S. manufacturing facility and
its Quebec battery plant and
innovation center, that Lion will not suffer any material
disruption in the supply of raw materials on competitive terms,
that Lion will be able to maintain its competitive position, that
Lion will continue to improve its operational, financial and other
internal controls and systems to manage its growth and size and
that its results of operations and financial condition will not be
adversely affected, that Lion will be able to benefit, either
directly or indirectly (including through its clients), from
government subsidies and economic incentives in the future and that
Lion will be able to secure any required additional funding through
equity or debt financing on terms acceptable to Lion. Such
estimates and assumptions are made by Lion in light of the
experience of management and their perception of historical trends,
current conditions and expected future developments, as well as
other factors believed to be appropriate and reasonable in the
circumstances. However, there can be no assurance that such
estimates and assumptions will prove to be correct.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Lion
believes that these risks and uncertainties include, but are not
limited to, the following: any adverse changes in the U.S. and
Canadian general economic, business, market, financial, political
and legal conditions, including as consequences of the global
COVID-19 pandemic and the emergence of COVID-19 variants and
varying rates of vaccination amongst various countries; Lion's
inability to successfully and economically manufacture and
distribute its vehicles at scale and meet its customers' business
needs; Lion's reliance on key management and any inability to
attract and/or retain key personnel; Lion's inability to execute
its growth strategy; Any unfavorable fluctuations and volatility in
the price of raw materials included in key components used to
manufacture Lion's products; Lion's reliance on key suppliers and
any inability to maintain an uninterrupted supply of raw materials;
Lion's inability to maintain its competitive position; Lion's
inability to reduce its costs of supply over time; any inability to
maintain and enhance Lion's reputation and brand; any significant
product repair and/or replacement due to product warranty claims or
product recalls; any failure of information technology systems or
any cybersecurity and data privacy breaches or incidents; the
reduction, elimination or discriminatory application of government
subsidies and economic incentives or the reduced need for such
subsidies; natural disasters, epidemic or pandemic outbreaks,
boycotts and geo-political events; the outcome of any legal
proceedings that may be instituted against the Company from time to
time.
These and other risks and uncertainties related to the
businesses of Lion are described in greater detail in the section
entitled "Risk Factors" in the Company's final prospectus dated
May 5, 2021 (the "Canadian
Prospectus") filed with the Autorité des marchés financiers (the
"AMF") and the registration statement on Form F-1 (the
"Registration Statement") filed with the Securities and Exchange
Commission (the "SEC") and declared effective on June 14, 2021 and other documents publicly filed
with the AMF and the SEC. Many of these risks are beyond Lion's
management's ability to control or predict. All forward-looking
statements attributable to Lion or persons acting on its behalf are
expressly qualified in their entirety by the cautionary statements
contained, and risk factors identified, in the Canadian Prospectus,
the Registration Statement and other documents filed with the AMF
and the SEC.
Because of these risks, uncertainties and assumptions, readers
should not place undue reliance on these forward-looking
statements. Furthermore, forward-looking statements speak only as
of the date they are made. Except as required under applicable
securities laws, Lion undertakes no obligation, and expressly
disclaims any duty, to update, revise or review any forward-looking
information, whether as a result of new information, future events
or otherwise.
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SOURCE Lion Electric