Lion Electric Pockets Conditional Purchase Order For 1,000 Electric School Buses
- Lion Electric Co (NYSE: 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.
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