Lion Electric posted a net loss of $17.2 million in the third quarter, but continued to increase deliveries of its electric trucks and buses.
It generated revenue of $41 million, up from $11.9 million year over year, and delivered 156 vehicles in the quarter.
“For the fourth quarter in a row, we delivered a record number of vehicles in the history of Lion. This proves that the switch to electrification is happening, today,” said Marc Bedard, CEO and founder of Lion. “As we are nearing the start of commercial production at both our U.S. manufacturing facility and our battery plant, we are excited by these important milestones, which represent a major step forward in our growth strategy.”
Deliveries of 156 vehicles were up compared to 40 in Q3 2021. Lion says it now has more than 800 vehicles on the road having generated more than 10 million miles. Its order book includes 2,408 vehicles, including 323 trucks, as well as 239 charging stations.
It currently operates 12 Experience Centers in the U.S. and Canada. Lion now employs about 1,350 people, 300 of which are in its engineering and R&D departments.
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