MONTREAL,
Oct. 28, 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 that it has received
a purchase order from Groupe Autocar Jeannois ("Jeannois") for
35 zero-emission LionC school buses, to be delivered over
the next five years. The purchase order also includes an
option for Jeannois to purchase an additional five LionC
buses. These LionC buses will be added to Jeannois'
existing fleet of three LionC all-electric buses.
Jeannois has also placed a purchase order for
four LionM buses to be delivered over the next four
years, to gradually replace its luxury diesel-powered
minibuses used in its corporate and tourist shuttle passenger
transport branch.
In addition, Lion announced that Jeannois will become
the first Lion authorized service center for the region of
Saguenay-Lac-St-Jean. The opening of this service center
further expands Lion's presence in Quebec and is in line with its commitment to
provide optimal service to all its customers, regardless of their
location in the province. The authorized service center, which
will complement Lion's Experience Centers, will be
a certified one-stop-shop for service, maintenance, and
warranty repairs for all local operators.
"This is excellent news for the region as 39 all-electric
buses will be added to Groupe Autocar Jeannois' fleet over the next
five years. This means that hundreds of children and adults
will ride zero-emission buses in the
Saguenay-Lac-St-Jean region, protecting their health and the
environment in which they live. I would like to thank Groupe
Autocar Jeannois for their trust. I'm also very proud to
announce that Jeannois will become the first
authorized Lion Electric service center. Once again, Lion
confirms its leading position in transport
electrification in Quebec. I'm
confident all our customers in the region will be well served,
thanks to this new partnership," mentioned Marc Bedard, CEO –
Founder, Lion Electric.
"We are proud to transport children and adults
in zero-emission buses and to continue our
transition towards electrification by increasing our
fleet of all-electric Lion vehicles. At Groupe Autocar
Jeannois, we are dedicated to offering the best products
and to do our part to provide a cleaner
future for our children and our community. As one of the
leaders in school transportation in Quebec, we are also very proud to become
the first authorized Lion Electric service center and
contribute to the development of the electrification
ecosystem," said Stephane Lefebvre,
President and CEO, Groupe Autocar Jeannois.
About Lion Electric Company
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
many of its vehicles' components, 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
About Groupe Autocar Jeannois
Groupe
Autocar Jeannois is a family business that
was created in 1974. Mr. Stéphane Lefebvre, Chairman and
Chief Executive Officer of the group, took over from his father in
the early 2000s. Groupe Autocar Jeannois is an important
carrier in the school sector in Saguenay-Lac-St-Jean and the
Charlevoix region. It also stands out in the Quebec City and Montreal regions in terms of tourist charter
transportation, group travel and corporate travel.
In addition to operating more than a hundred units in
school transportation, it has a fleet of more than 45 vehicles in
luxury coach and minibus transportation that covers needs
throughout Quebec, Canada and
North America.
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.
View original
content:https://www.prnewswire.com/news-releases/lion-electric-receives-purchase-order-for-39-electric-vehicles-from-groupe-autocar-jeannois-301410660.html
SOURCE Lion Electric