- The Lion Electric Company (TSX:LEV) is announcing a conditional purchase order from Highland Electric Fleets for 50 all-electric LionC school buses
- The new buses would run school routes in Alberta serviced by Rental Bus Lines Ltd. and add to Lion Electric’s growing US$625 million vehicle order book
- The Lion Electric Company is a zero-emission bus and truck manufacturer
- The Lion Electric Company stock (TSX:LEV) is down by more than 80 per cent since 2018
The Lion Electric Company (TSX:LEV) is announcing a conditional purchase order from Highland Electric Fleets for 50 all-electric LionC school buses.
Highland Electric Fleets is a leading provider of electrification-as-a-service for school districts, governments and fleet operators in North America. The company is active in Canada and 30 U.S. states and is responsible for the largest electric school bus project in the U.S. to date.
The purchase order is conditional upon Highland receiving a grant of non-repayable contributions under Infrastructure Canada’s Zero-Emission Transit Fund, which is distributing C$2.75 billion to support public transit and school bus electrification.
The 50 new buses would run school routes in Alberta serviced by Rental Bus Lines Ltd.
Lion Electric’s vehicle order book stood at 2,559 all-electric medium- and heavy-duty urban vehicles as of Q2 2023, including 304 trucks and 2,255 buses, representing a combined total order value of US$625 million based on management’s estimates.
These figures are up from 2,468 vehicles as of Q4 2022, comprising 301 trucks and 2,167 buses, for a total order value of approximately US$575 million.
“Lion Electric and Highland are both leaders in school bus electrification, sharing the vision of reducing emissions while offering a compelling commercial proposition to fleet operators. We salute Highland and Rental Bus Lines Ltd. for their leadership and we thank them for trusting Lion Electric for this important deployment,” Nicolas Brunet, president of The Lion Electric Company, said in a statement.
“Highland’s mission is to make electric fleets accessible and affordable for all, and we are pleased to partner with Lion Electric and third-party fleet manager Rental Bus Lines Ltd. to deploy electric school buses in Alberta,” added Duncan McIntyre, CEO of Highland Electric Fleets. “Electric school buses provide an easy and accessible means of transportation for students and we are excited to partner with strong leaders like Lion Electric and Rental Bus Lines Ltd. to bring clean and reliable transportation to communities across North America.”
The Lion Electric Company is a zero-emission vehicle manufacturer specialized in all-electric class 5 to class 8 commercial urban trucks, as well as all-electric buses and minibuses for the school, paratransit and mass transit segments.
The Lion Electric Company stock (TSX:LEV) opened with a gain of 3.78 per cent trading at C$2.47 per share. Shares are down by over 80 per cent since 2018.
Stockhouse recently included The Lion Electric Company among five emerging electric car companies to invest in today.
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