MONTREAL – Quebec electric-vehicle maker Lion Electric Co. wants to focus on building school buses rather than trucks as part of a restructuring plan that would return all manufacturing operations to the province.
An investment document distributed to potential buyers says the company could be profitable if it produces 550 buses a year at its manufacturing plant in St-Jérôme, Que., northeast of Montreal.
Lion Electric entered creditor protection last month after going through several rounds of layoffs in 2024 and halting operations at its plant in Illinois.
A report filed in Quebec Superior Court on Friday says 136 potential buyers have been approached so far, as well as 11 firms that could be interested in acquiring company assets on a piecemeal basis.
The company announced more layoffs last week and said its remaining 160 workers would focus on helping clients with the maintenance of school buses and trucks.
A judge on Tuesday extended the company’s creditor protection until Feb. 14.
This report by The Canadian Press was first published Jan. 8, 2025.
