The Lion Electric Company (TSX: LEV) started the year with major updates. The automaker announced that it has taken possession of its upcoming production facility in Joliet, Illinois.
The firm said the manufacturing facility has an expected annual production capacity of up to 20,000 vehicles, claiming it will “represent the largest dedicated production site for zero-emission medium and heavy-duty vehicles in the U.S.”
Our production from the Joliet plant will support the national demand for zero-emission electric school buses, paratransit buses, and trucks ranging from Class 5 to Class 8,” said CEO Marc Bedard.
Improvement work is currently ongoing and the company is targeting the first vehicles from the facility by H2 2022.
The Lion Electric Company last traded at $12.27 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
