Lion Electric delivered 61 vehicles in the second quarter, up from 22 in Q2 2020, growing its revenue to $16.7 million.
The fledgling electric truck and bus maker saw its net loss balloon to $178.5 million in the quarter due to expenses related with the company’s ramp-up. Lion reported it now has more than 400 vehicles on the road with about 8 million miles driven.
Its order book included 262 trucks and 703 buses as of Aug. 12, representing a total order value of more than $280 million. Lion also had orders for 73 charging stations representing about $1 million in revenue.
New clients included Green Mountain Power, Day & Ross, and Casella Waste Systems. Lion now employs about 900 people and will have four new Experience Centers in operation during the second half of the year, it claims.
Lion also reported the shell of its 900,000 sq.-ft. manufacturing facility in Joliet, Ill., is about 80% complete.
“We are pleased with our Q2 2021 performance, as we continue to execute on our growth strategy in a timely manner. We have very strong momentum in client dialogue and focus our efforts on generating purchase orders and delivering our purpose-built vehicles that meet the needs of our growing customer base,” said CEO Marc Bedard.
“Various levels of governments across North America are sending strong signals to support transport electrification, resulting in an increased unprecedented interest from both our public and private clients. This bodes well for our long-term growth. On the operational front, we are advancing the development and commercialization of new platforms and are on track to launch eight new vehicles by the end of 2022, for a total of 15 models. In parallel, we have made significant progress on our two plant projects and are on-track for the first vehicles to be produced from our Joliet, Illinois manufacturing plant in the second half of 2022, and for the initial battery production at our battery plant in the same timeframe.”
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