Lion ElectricNYSE: LEV

MONTREAL , July 2, 2024 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that it has entered into amendments to certain of its senior credit instruments, namely (i) its senior revolving credit agreement entered into with a syndicate of lenders represented by National Bank of Canada, as administrative agent and collateral agent, and including Bank of Montreal and Federation des Caisses Desjardins du Québec, (ii) its loan agreement entered into with Finalta Capital and Caisse de dépôt et placement du Quebec, and (iii) its non-convertible debentures issued in July 2023 to a group of investors led by Mach Group and the Mirella & Lino Saputo Foundation. The Company also announced the entering into of a new agreement with Investissement Québec providing for a loan under the ESSOR program in the amount of C$5,000,000, which loan may, under certain conditions, be drawn up to C$7,500,000 (the "ESSOR loan").

The EV industry has seen slowed growth in the recent past as the rise in inflation, financial costs and increased consumer skepticism reduce demand and slow down sales growth. Many new industry entrants have also faced insurmountable challenges, with excessive cost overruns, failure to meet targets, and stiff competition making it difficult to break even.

NEW YORK, June 10, 2024 (GLOBE NEWSWIRE) -- Are you a former investor in Northern Genesis Acquisition Corp., now known as the The Lion Electric Company (NYSE: LEV)? If so, Monteverde & Associates PC (“Monteverde”) encourages you to immediately contact Monteverde regarding the class action lawsuit filed by the firm in the United States District Court for the Southern District of New York, case no. 1:24-cv-02155 (the “Federal Class Action”). There is a June 10, 2024 deadline to seek to be appointed lead plaintiff.

NEW YORK , June 5, 2024 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for Southern District of New York, case no. 1:24-cv-02155, on behalf of former shareholders of Northern Genesis Acquisition Corp., ("Genesis " or the "Company") (NYSE: NGA) who have been harmed by Genesis and its board of directors' (the "Board") for alleged violations of Sections 14(a), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the 2021 de-SPAC transaction ("Merger") between NGA and The Lion Electric Company ("Lion Electric") (the "Federal Class Action").

Highlights: GCWR: up to 127,000 lbs - highest of the electric vehicle (EV) truck market Driving Range: up to 275 Miles (440 kilometers) Battery Capacity: up to 630 kWh Level III Charge Time (DC): charging to 80% SOC in 1.5 hours Powered by Lion's Heavy-Duty battery packs (high-energy-density proprietary 750V battery system) Click here for media assets   LAS VEGAS , May 21, 2024 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, unveiled today the Lion8 Tractor, an all-electric Class 8 commercial truck, during the Advanced Clean Transportation (ACT) Expo, one of the largest conference and trade shows highlighting the most advanced transportation technologies and clean fuels available in the marketplace today. "The Lion8 Tractor embodies our commitment to pushing the boundaries of possibility in modern freight transportation," stated Marc Bedard, CEO-Founder of Lion.

The Lion Electric Company, a top producer of electric urban vehicles, conducted its annual shareholder meeting virtually, with over 124 million common shares represented, accounting for 55.16% of all shares outstanding.

Lion Electric (NYSE: LEV) is planning layoffs for its employees as it looks to cut costs, with 120 jobs set to be eliminated.

Lion Electric has announced plans to reduce its workforce and implement other cost-cutting measures in order to better align its cost structure with current market conditions. Following this announcement, shares of the Montreal-based company, known for producing all-electric medium and heavy-duty vehicles, experienced a decline.

Through the first two months of 2024, the markets haven't been very kind to electric vehicle (EV) stocks. For example, the VanEck Low Carbon Energy ETF (NYSEARCA: SMOG ) has three EV makers in its top 10.