Lion Electric Expects Bankruptcy Filing Amid EV Pushback [Yahoo! Finance]
The Lion Electric Company Common Shares (LEV)
Company Research
Source: Yahoo! Finance
The latest: electric bus and truck maker Lion Electric Co. expects to seek creditor protection. Most Read from Bloomberg Hong Kong's Expat Party Hub Reshaped by Chinese Influx How California Sees the World, and Itself London's Tube Fares Are Set to Rise by 4.6% Next Year The Saint-Jerome, Que.-based company announced in a news release the expiry of covenants on a credit line and the maturity on a separate loan as no “alternatives have materialized and no further amendments, concessions or waivers have been obtained.” As a result, Lion expects to initiate a restructuring process under Canada's Companies Creditors Arrangement Act, and “pursue a formal sales and investment solicitation process in respect of the company's business or assets.” Lion's problems stem from delays in subsidy and incentive programs in Canada and the US, as well as supply chain disruptions, scaling issues, too many vehicle models being developed at the same time and slower EV adoption. The manufac
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LEV
News
- EV Startups on a Rough Road: Lion Electric Becomes the Latest Casualty [Yahoo! Finance]Yahoo! Finance
- Lion Electric applies to Quebec court for protection from creditors under CCAA [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- LION ELECTRIC FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAA [Yahoo! Finance]Yahoo! Finance
- LION ELECTRIC FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAAPR Newswire
- Lion Electric to file for bankruptcy protection after failing to find new investor backing [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
LEV
Sec Filings
- 12/18/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/6/24 - Form 25-NSE
- LEV's page on the SEC website