Lion Electric Company (LEV)

[WeTheMarket]

Lion Electric Receives Conditional Purchase Order From Highland Electric Fleets for 50 Electric School Buses
November 03 2023
https://ih.advfn.com/stock-market/NYSE/lion-electric-LEV/stock-news/92453388/lion-electric-receives-conditional-purchase-order

MONTREAL, Nov. 3, 2023 /CNW/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium- and heavy-duty vehicles, announced today that it has received a conditional purchase order for 50 all-electric LionC school buses from Highland Electric Fleets ("Highland"), a leading provider of Electrification-as-a-Service for school districts, governments, and fleet operators in North America.

Lion Electric LionC (CNW Group/The Lion Electric Co.)

The purchase order is conditional upon the satisfactory grant of non-repayable contributions to Highland under Infrastructure Canada's Zero-Emission Transit Fund ("ZETF")1. The new buses are intended to be used on school routes in Alberta, Canada, serviced by Rental Bus Lines Ltd.

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1 Please refer to the section below entitled "Caution Regarding Forward-Looking Statements".


"Lion and Highland are both leaders in school bus electrification, sharing the vision of reducing emissions while offering a compelling commercial proposition to fleet operators. We salute Highland and Rental Bus Lines Ltd for their leadership and we thank them for trusting Lion for this important deployment," said Nicolas Brunet, President of Lion.

"Highland's mission is to make electric fleets accessible and affordable for all, and we are pleased to partner with Lion and third-party fleet manager Rental Bus Lines Ldt to deploy electric school buses in Alberta," said Duncan McIntyre, CEO of Highland Electric Fleets. "Electric school buses provide an easy and accessible means of transportation for students and we are excited to partner with strong leaders like Lion and Rental Bus Lines Ldt to bring clean and reliable transportation to communities across North America."

ABOUT LION ELECTRIC
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.

ABOUT HIGHLAND ELECTRIC FLEETS
Highland Electric Fleets is the leading provider of electrification-as-a-service for school districts, governments, and fleet operators in North America. Founded in 2019, Highland offers a unique suite of products that make it simple and affordable to upgrade to electric fleets today. Active in 30 states and Canada, Highland is responsible for the first use of electric school buses in a commercial vehicle-to-grid (V2G) program and the largest electric school bus project in the United States to date. To learn more, visit www.highlandfleets.com.