MONTREAL, Feb. 18,
2022 /CNW Telbec/ - The Lion Electric Company (NYSE:
LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer
of all-electric medium and heavy-duty vehicles, today announced the
launch of LionCapital Solutions, a new division dedicated to
providing customers with flexible financing solutions specifically
tailored to the medium and heavy-duty electric vehicle market.
Leveraging Lion's existing vehicle financing alternatives,
LionCapital Solutions will commercialize a programmatic financing
offering that can be deployed at scale and is specifically designed
for Lion school buses, Lion trucks and related charging
infrastructure, including loans, leasing and monetization of carbon
credits. LionCapital Solutions will work jointly with the company's
commercial, operations, and finance teams to integrate financing
solutions into Lion's turnkey fleet electrification package.
LionCapital Solutions will maximize access to funding, eliminate or
reduce upfront capital requirements, simplify the financing process
and ultimately allow customers to benefit from a favorable total
cost of ownership from day one.
LionCapital Solutions will be under the leadership of
William Blanchard, who previously
held senior positions in financial institutions and has extensive
experience in executing complex financing transactions. Most
recently, Mr. Blanchard served as Director in Investment Banking at
BMO Capital Markets.
"At Lion, we always strive to provide our customers with an
all-in-one solution to electrify their fleets, easing their
transition to zero-emission vehicles. With the addition of
LionCapital Solutions, Lion will directly integrate financing and
carbon credit monetization into the Lion ecosystem, which includes
grants, charging infrastructure services, telematics, training,
vehicle maintenance and more," said Marc
Bedard, CEO – Founder, Lion Electric. "I am pleased to
welcome William to the company and look forward to LionCapital
Solutions playing a critical role in putting more all-electric
trucks and buses on the road, as our sector continues to move
towards an asset-light, as-a-service model."
For additional information, please visit LionCapital Solutions |
Lion Electric (thelionelectric.com)
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
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 to download
multimedia:https://www.prnewswire.com/news-releases/lion-electric-launches-lioncapital-solutions-and-appoints-william-blanchard-as-head-of-division-301485419.html
SOURCE Lion Electric