MONTREAL, Canada– The Lion Electric Company (NYSE: LEV) (TSX: LEV) (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty vehicles, today announced the launch of LionCapital Solutions, a new division dedicated to providing customers with flexible financing solutions specifically tailored to the medium and heavy-duty electric vehicle market.
Leveraging Lion’s existing vehicle financing alternatives, LionCapital Solutions will commercialize a programmatic financing offering that can be deployed at scale and is specifically designed for Lion school buses, Lion trucks and related charging infrastructure, including loans, leasing and monetization of carbon credits. LionCapital Solutions will work jointly with the company’s commercial, operations, and finance teams to integrate financing solutions into Lion’s turnkey fleet electrification package. LionCapital Solutions will maximize access to funding, eliminate or reduce upfront capital requirements, simplify the financing process and ultimately allow customers to benefit from a favorable total cost of ownership from day one.
LionCapital Solutions will be under the leadership of William Blanchard, who previously held senior positions in financial institutions and has extensive experience in executing complex financing transactions. Most recently, Mr. Blanchard served as Director in Investment Banking at BMO Capital Markets.
“At Lion, we always strive to provide our customers with an all-in-one solution to electrify their fleets, easing their transition to zero-emission vehicles. With the addition of LionCapital Solutions, Lion will directly integrate financing and carbon credit monetization into the Lion ecosystem, which includes grants, charging infrastructure services, telematics, training, vehicle maintenance and more,” said Marc Bedard, CEO – Founder, Lion Electric. “I am pleased to welcome William to the company and look forward to LionCapital Solutions playing a critical role in putting more all-electric trucks and buses on the road, as our sector continues to move towards an asset-light, as-a-service model.”
About Lion Electric Company:
Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles’ components, including chassis, battery packs, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV. For more information visit https://pages.thelionelectric.com/lion-capital-solutions/
