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The Canada Infrastructure Bank has forged a $50 million loan agreement with Highland Electric Fleets to facilitate the procurement of zero-emission school buses nationwide.
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The Canada-based electric vehicle manufacturer is reducing its workforce by about 120 employees in overhead and product development functions.
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Pontiac School District in Michigan secures grants totaling $21.575 million from the Environmental Protection Agency and President Biden's infrastructure law to replace its diesel school buses with electric school buses. The initiative aims to improve air quality, reduce emissions, and promote sustainable student transportation, signaling a significant step towards environmental stewardship.
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The California Energy Commission funding goes to BorgWarner, Fermata Energy, and Lion Electric to supporty a vehicle-to-grid project with bus operator American Transportation.
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Revenue increased in Q4 2023, but the year saw some challenges for Lion, including the decision to delay LionA and LionM buses and the layoffs of 100 workers in Canada.
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The LionD Type D electric school bus has seating capacity for 83 children and a range of up to 155 miles on a single charge.
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The company collaborated with third-party testing partners to ensure the quality of the batteries used in Lion's medium-duty trucks and school buses.
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Quarterly updates from electric school bus manufacturer Lion Electric, covering revenues and sales and delivery reports.
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Highland Electric Fleets has issued a purchase order for 50 LionC school buses, conditional upon the satisfactory grant of non-repayable contributions to Highland.
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Nicolas Brunet, previously appointed as executive vice president and CFO since 2019, has been appointed president, while Richard Coulombe, the senior vice president of strategic initiatives, takes Brunet's old position.
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