Group of investors submits revised offer to buy Quebec-based Lion Electric

Lion Electric is on the verge of completing a transaction that would allow it to eventually resume its activities. An agreement with a group of investors could be approved by the Superior Court by the end of the week.

Group of investors submits revised offer to buy Quebec-based Lion Electric

A previous offer fell through because it was conditional on government funding, which the province refused last month

Group of Investors Submits Revised Offer to Buy Quebec-Based Lion Electric

A group of investors has submitted a revised offer to buy Quebec vehicle-maker Lion Electric. A previous offer fell through because it was conditional on government funding, which the province refused last month. But court documents say the buyers have reached an agreement with the Quebec government to renew a recently expired subsidy program for electric school buses. They made a new offer to buy the struggling company on Friday. The court-appo…

They revised their proposal after Quebec closed the door to government funding.

Québec would have committed itself to investors interested in the acquisition of Lion électrique to renew the School Transportation electrification program.

Future of Clean School Bus Program?

School districts are contemplating how to best move forward with the cleanest-emitting school bus that best meets their individual needs, be that an electric school bus (ESB), one fueled by propane, or a cleaner diesel variety. Several factors lead to the uncertainty over more widespread adoption of ESBs. Pricing, infrastructure and range remain concerns, and Lion Electric customers are still figuring out their next moves amid the company’s auct…