Lion Electric releases first quarterly results, has 817 vehicles on order

by Today's Trucking

Lion Electric posted a US$1.8-million loss in its first quarterly earnings report as a publicly-traded company, but announced it has 817 electric vehicles on its order books, including 209 trucks and 608 buses.

It delivered 24 vehicles in the first quarter and generated revenue of $6.2 million. Current orders total more than $225 million.

It also has 76 charging stations on order, representing another $800,000. Lion also reported it has delivered the first 10 Lion6 trucks to Amazon and now employs more than 650 people.

Marc Bedard (Photo: Lion Electric)

“On the operational front, despite the continued impact of the Covid-19 pandemic, we were able to post a positive performance for Q1 2021 as compared to Q1 2020,” said founder Marc Bedard.

“In addition, our clients continue to show a high level of satisfaction with our products and services. Not only have we shown growth in revenues in Q1, but we have improved our order book. With seven types of purpose-built electric vehicles available for purchase today and eight additional ones expected to be available by the end of 2022, our focus is to accelerate our growth and execute on our long-term strategy, including by advancing our U.S. manufacturing facility and our battery plant projects, continuing to build our order book, accelerating vehicle deliveries and further strengthening our team. All these elements are the foundation of our success.”

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