Lion Electric stands as a prominent manufacturer of all-electric medium and heavy-duty vehicles, specializing in sustainable transportation solutions. Founded in 2008 as Lion Bus and rebranded in 2017, the company has established itself as a significant player in the electric vehicle sector. From its base in Saint-Jérôme, Quebec, Lion Electric designs and produces a comprehensive range of zero-emission vehicles, including school buses, commercial trucks, and transit solutions. The company’s integrated approach encompasses not only vehicle manufacturing but also essential services such as energy consulting, charging infrastructure, and technical support.
Battery Technology
Lion Electric’s battery expertise centers on its proprietary LionBattery technology, developed specifically for commercial applications. The company operates a state-of-the-art production facility in Mirabel, Quebec, with an annual manufacturing capacity of 1.7 gigawatt hours, sufficient to power approximately 5,000 vehicles annually. At maximum capacity, the facility can produce up to five gigawatt hours, enabling the production of 14,500 electric vehicles.
The company manufactures two main battery variants: LionBattery MD for medium-duty applications and LionBattery HD for heavy-duty vehicles. These lithium-ion battery packs are engineered to meet specific performance requirements across different vehicle categories. The technology emphasizes safety, durability, and optimal energy density, making it suitable for demanding commercial applications. Lion Electric has expanded its battery business model to include external supply, offering its battery solutions to other manufacturers for various applications, including marine vessels and energy storage systems.
Recent Projects
In early 2024, Lion Electric implemented significant restructuring measures to strengthen its financial position. The company has shifted its manufacturing focus toward school buses, aiming to produce 550 units annually at its Saint-Jérôme facility. As part of this strategic realignment, Lion Electric sold its Quebec innovation center for $50 million and streamlined its operations to enhance efficiency. The company maintains its commitment to vehicle-to-grid (V2G) technology integration through collaboration with Nuvve Corporation, enabling dynamic energy storage and discharge capabilities in its electric vehicles.
Investors
Lion Electric’s investor base includes several prominent institutions. Investissement Quebec, Fonds de solidarité des travailleurs du Québec (FTQ), and Fondaction have provided financial support through convertible debentures. Additional backing comes from Mach Group and the Mirella and Lino Saputo Foundation. Institutional investors such as Highbridge Capital Management LLC, B. Riley Financial, Inc., and Point72 Asset Management LP maintain significant shareholdings in the company.
Location: Saint-Jérôme, Quebec, Canada
Website: https://thelionelectric.com
LinkedIn: https://www.linkedin.com/company/454197
