- Lion Electric ($LEV) has officially crossed 10 million miles driven.
- The company manufactured its first LionC all-electric school bus in the US at its Joliet Factory and produced its first battery pack at its Mirabel facility in December.
According to the commercial EV manufacturer’s fourth-quarter earnings released Friday, Lion Electric ($LEV) has officially crossed 10 million miles driven. The electric bus, truck, and school bus maker doubled revenue in a record quarter as its total EVs on the road approached 1,000. The Quebec-based medium and heavy-duty EV maker has been a pioneer in the commercial electric vehicle industry long before it became a trend. Lion’s over 12 years’ determination is paying off, as its vehicles, totalling 950, have now driven over 10 million miles.
The EV company has signed deals with several major clients across North America, including for its electric trucks (Amazon, Ikea) and buses (First Student, LA USD, STA, National Express, ZUM). Lion Electric offers a complete turnkey solution, which includes the electric bus or truck, charging infrastructure, grants assistance, financing, training, maintenance, and more to make it easy for businesses to go electric.
The company manufactured its first LionC all-electric school bus in the US at its Joliet Factory and produced its first battery pack at its Mirabel facility in December. Lion said it was entering the “ramp-up phase of production.” and delivered 174 vehicles in the fourth quarter, consisting of 139 electric school buses and 35 trucks, 160 of which were in Canada, while the remaining 14 were in the US.
Marc Bedard, CEO and founder of Lion Electric, commented on the progress, saying, “We are pleased with our 2022 performance. Once again, despite external challenges, we delivered a record number of electric vehicles. In parallel, we produced our first electric school bus at our Joliet, IL manufacturing plant and our first battery pack at our Mirabel, QC battery manufacturing facility while efficiently managing our cash position throughout the year.”