Lion Electric Pockets Conditional Purchase Order For 1,000 Electric School Buses

Loading...
Loading...
  • Lion Electric Co LEV has received a conditional purchase order for 1,000 all-electric LionC school buses from Student Transportation of Canada, a subsidiary of Student Transportation of America, whose controlling shareholder is Caisse de dépôt et placement du Québec (CDPQ). The financial terms of the order were not disclosed.
  • The purchase order is conditional upon the satisfactory grant of non-repayable contributions to STC under Infrastructure Canada's Zero-Emission Transit Fund.
  • If confirmed, the purchase order would allow STC to become the largest operator of zero-emission school buses in North America. Deliveries would begin in 2022 and occur through the first half of 2026.
  • Lion estimates that the deployment of 1,000 all-electric school buses would help eliminate approximately 23,000 tons of greenhouse gas emissions per year, in addition to significantly reducing noise pollution for the communities in which they operate.
  • Price Action: LEV shares are trading higher by 3.43% at $12.37 during the pr-market session on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsContractsMoversTrading IdeasBriefsElectric Vehicle
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...