Quebec refuses to reinvest in Lion Electric (busses); US factory auction
a year ago
- #Government Policy
- #Electric Vehicles
- #Quebec
- Quebec government rethinks pace of electrifying transportation sector, stops funding Lion Electric.
- Lion Electric, maker of electric school buses and trucks, sought creditor protection in December.
- Government declines $24M aid request from potential buyers, citing lack of private sector involvement.
- Premier Legault hints at shifting priorities due to political changes in the U.S. under Trump.
- Quebec stands to lose $140M on Lion Electric investments.
- Lion Electric's restructuring plan focuses on school buses and Quebec-based manufacturing.
- Bus operators face dilemma as subsidies expire but electric bus mandate remains.
- Government evaluating electrification strategy, including school bus targets.
- Experts criticize subsidy program for failing to reduce electric bus costs effectively.
- Concerns arise over maintenance of existing Lion Electric buses if company fails.