MONTRÉAL, April 11, 2022 /PRNewswire/ – The Lion Electrical Firm (NYSE: LEV) (TSX: LEV) (“Lion” or the “Firm”), a number one producer of all-electric medium and heavy-duty autos, and Transit Truck Our bodies (“Transit”) as we speak introduced the launch of a brand new light-weight, aerodynamic, 100% electrical heavy-duty truck completely fitted to last-mile city supply, that was developed underneath an upfitter partnership mannequin.
Designed by Transit, this zero-emission automobile constructed on a Lion6 chassis options an e-Classik field, which is far lighter than the usual mannequin and has been particularly tailored to city roads. This automobile was developed as a part of the Mobel mobilization challenge that the federal government of Quebec helps to finance.
“The completion of this challenge is a big step ahead for Transit. We have now all the time been dedicated to innovation and offering prospects with environment friendly, high-performance merchandise. We’re targeted on designing the inexperienced truck bins of tomorrow. That is why we’re excited to introduce the e-Classik field mounted on a Lion6 chassis. 40 % lighter, it is an progressive product that’s out there proper now in each Canada and the US, and it is a crucial instrument in our prospects’ transition to EV journey,” mentioned Louis Leclair, Transit President.
“We’re very happy with the launch of this new automobile that additional demonstrates the flexibility of Lion’s electrical chassis. Congratulations to the Transit workforce on their imaginative and prescient! For a number of years, our two groups have been working diligently to create 100% electrical merchandise that advance our trade. In the present day, the e-Classik field mixed with our Lion6 chassis permits us not solely to satisfy transportation fleet wants, but in addition society’s expectations as we combat local weather change and transition to zero-emission transportation,” acknowledged Marc Bédard, CEO – Founding father of Lion Electrical.
“Quebec has the potential to be a frontrunner in transportation electrification, therefore our authorities serving to fund many initiatives to affect every kind of autos. In a manner, it is considered one of Quebec’s contributions to the worldwide combat in opposition to local weather change. And I’m very happy with what we’re doing. Each new innovation that chooses electrification over fossil fuels is yet another step in direction of lowering our greenhouse gasoline emissions and reaching Quebec’s greenhouse gasoline goals. I subsequently applaud the challenge companions for his or her dedication to making a model new 100% electrical supply automobile,” acknowledged Benoit Charette, Minister of the Surroundings and the Struggle in opposition to Local weather Change, Minister Liable for the Struggle In opposition to Racism and Minister Liable for the Laval Area.
This new electrical industrial automobile as soon as once more confirms Quebec’s management in transportation electrification. It is by means of initiatives like this one between Transit and Lion that we will construct a inexperienced and progressive financial system,” concluded Pierre Fitzgibbon, Minister of Financial system and Innovation and Minister for Regional Financial Improvement.
About Lion Electrical
Lion Electric is an progressive producer of zero-emission autos. We expect, design and manufacture all-electric, class 5 to class eight industrial city vehicles and all-electric buses and minibuses for the college, paratransit and mass transit segments.
Lion is a North American chief in electrical transportation and designs, builds and assembles lots of its autos’ parts, together with chassis, battery packs, truck cabins and bus our bodies.
At all times actively looking for new and dependable applied sciences, Lion autos have distinctive options which are particularly tailored to customers and their on a regular basis wants. We consider that transitioning to all-electric autos will result in main enhancements in our society, setting and general high quality of life. Lion shares are traded on the New York Inventory Alternate and the Toronto Inventory Alternate underneath the image LEV.
Lion Electrical, the good alternative
Thelionelectric.com
About Transit Truck Our bodies
Since 1978, Transit Truck Our bodies has been offering services and products all through North America exceeding buyer expectations. With greater than 65,000 truck our bodies manufactured, Transit has developed a spread of dry bins (Classik® and X-Treme®) and refrigerated bins (Arctik® and Frio®) providing progressive applied sciences, ease of use and impeccable design.
Transit can manufacture personalized, sturdy and resistant product on brief discover.
Uncover one other technique to make truck bins with Transit.
Transit.ca
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press launch accommodates “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) inside the that means of relevant securities legal guidelines. Any statements contained on this press launch that aren’t statements of historic reality, together with statements about Lion’s beliefs and expectations, are forward-looking statements and must be evaluated as such. Ahead-looking statements could also be recognized by way of phrases equivalent to “consider,” “could,” “will,” “proceed,” “anticipate,” “intend,” “anticipate,” “ought to,” “would,” “may,” “plan,” “challenge,” “potential,” “appear,” “search,” “future,” “goal” or different related expressions and every other statements that predict or point out future occasions or developments or that aren’t statements of historic issues, though not all forward-looking statements comprise such figuring out phrases.
The Firm made a lot of financial, market and operational assumptions in getting ready and guaranteeing forward-looking statements contained on this press launch together with, however not restricted to, that Lion will have the ability to retain and rent key personnel and preserve relationships with prospects, suppliers and different enterprise companions, that Lion will proceed to function its enterprise within the regular course, that Lion will have the ability to implement its development technique, that Lion will have the ability to efficiently and well timed full the development of its U.S. manufacturing facility and its Quebec battery plant and innovation centre, that Lion won’t endure any materials disruption within the provide of uncooked supplies on aggressive phrases, that Lion will have the ability to preserve its aggressive place, that Lion will proceed to enhance its operational, monetary and different inside controls and techniques to handle its development and measurement and that its outcomes of operations and monetary situation won’t be adversely affected, that Lion will have the ability to profit, both straight or not directly (together with by means of its purchasers), from authorities subsidies and financial incentives sooner or later and that Lion will have the ability to safe any required extra funding by means of fairness or debt financing on phrases acceptable to Lion. Such estimates and assumptions are made by Lion in mild of the expertise of administration and their notion of historic developments, present situations and anticipated future developments, in addition to different components believed to be acceptable and affordable within the circumstances. Nevertheless, there may be no assurance that such estimates and assumptions will show to be right.
By their nature, forward-looking statements contain dangers and uncertainties as a result of they relate to occasions and rely on circumstances which will or could not happen sooner or later. Lion believes that these dangers and uncertainties embrace, however are usually not restricted to, the next: any hostile modifications within the U.S. and Canadian normal financial, enterprise, market, monetary, political and authorized situations, together with as penalties of the worldwide COVID-19 pandemic and the emergence of COVID-19 variants and ranging charges of vaccination amongst varied international locations; Lion’s incapability to efficiently and economically manufacture and distribute its autos at scale and meet its prospects’ enterprise wants; Lion’s reliance on key administration and any incapability to draw and/or retain key personnel; Lion’s incapability to execute its development technique; Any unfavourable fluctuations and volatility within the worth of uncooked supplies included in key parts used to fabricate Lion’s merchandise; Lion’s reliance on key suppliers and any incapability to keep up an uninterrupted provide of uncooked supplies; Lion’s incapability to keep up its aggressive place; Lion’s incapability to cut back its prices of provide over time; any incapability to keep up and improve Lion’s fame and model; any important product restore and/or substitute as a result of product guarantee claims or product recollects; any failure of data know-how techniques or any cybersecurity and knowledge privateness breaches or incidents; the discount, elimination or discriminatory utility of presidency subsidies and financial incentives or the diminished want for such subsidies; pure disasters, epidemic or pandemic outbreaks, boycotts and geo-political occasions; the end result of any authorized proceedings which may be instituted in opposition to the Firm once in a while.
These and different dangers and uncertainties associated to the companies of Lion are described in larger element within the part entitled “Danger Components” not associated to an funding within the Firm’s last prospectus dated Might 5, 2021 (the “Canadian Prospectus”) filed with the Autorité des marchés financiers (the “AMF”) and the registration assertion on Kind F-1 (the “Registration Assertion”) filed with the Securities and Alternate Fee (the “SEC”) and declared efficient on June 14, 2021 and different paperwork publicly filed with the AMF and the SEC. Many of those dangers are past Lion’s administration’s potential to manage or predict. All forward-looking statements attributable to Lion or individuals appearing on its behalf are expressly certified of their entirety by the cautionary statements contained, and danger components recognized, within the Canadian Prospectus, the Registration Assertion and different paperwork filed with the AMF and the SEC.
Due to these dangers, uncertainties and assumptions, readers mustn’t place undue reliance on these forward-looking statements. Moreover, forward-looking statements communicate solely as of the date they’re made. Besides as required underneath relevant securities legal guidelines, Lion undertakes no obligation, and expressly disclaims any obligation, to replace, revise or evaluate any forward-looking info, whether or not because of new info, future occasions or in any other case.
SOURCE Lion Electrical