MONTREAL, March 9, 2022 /PRNewswire/ - The Lion Electric
Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading
manufacturer of all-electric medium and heavy-duty vehicles, today
announced several key partnerships with truck upfitters to provide
new fully electrified refrigerated, dry freight and aluminum stake
body options for its Lion6 zero-emission urban truck. The new
partnerships include equipment upfit options from industry leaders
Morgan Truck Body, Thermo King,
Knapheide and CM Truck Beds.
Several Lion6 vehicles are on display at Work Truck Week 2022,
taking place March 8 – 11 in
Indianapolis (Lion booth #2625),
including:
- Lion6 Electrified Refrigerated Concept in partnership
with Morgan Truck Body and Thermo
King (Morgan booth #4949)
- Lion6 Aluminum Platform Body 18-foot with Storage Pack
in partnership with Knapheide (Lion booth #2625)
- Lion6 Aluminum Platform Body (26-foot) in partnership
with CM Truck Beds (CM booth #5159)
Additionally, Work Truck Week attendees will have the
opportunity to experience an all-electric lightweight and
aerodynamic Lion6 Dry Freight Truck Body in partnership with
Morgan Truck Body, which will be available for test drives at the
Work Truck Week Ride & Drive, taking place March 9 and 10, 11:00
a.m. – 3:30 p.m.
"The wide variety of upfit components we are debuting at this
year's Work Truck Week is proof that electrification has arrived
for a broad range of truck fleet customers, from dry cargo fleets
to those with temperature-sensitive requirements. We are pleased to
be working in close collaboration with four industry leaders as we
continue to move toward a zero-emission future in trucking, and
look forward to continuing to introduce new applications to our
highly flexible class 5 to class 8 chassis vehicles," said
Brian Piern, Chief Commercial
Officer of Lion Electric.
A Versatile and Sustainable Urban Truck Chassis
The Lion6 is a class 6 zero-emission urban truck built on the
experience Lion has gained from putting over 550 heavy-duty
all-electric vehicles on the road, which have covered over 9
million miles to date. Offering 200 miles of range on a single
charge, the Lion6 is designed and built to be 100% electric from
the ground up, with none of the engineering compromises and waste
inherent to platforms retrofitted from traditional internal
combustion engine designs.
The Lion6 also benefits from Lion's proprietary battery thermal
management system (BTMS), which keeps battery temperatures in the
ideal operating range. The result is optimal performance in
extremely hot and cold environments with minimal impact on range,
as has been proven by Lion truck customers currently operating in
harsh conditions in some of the coldest regions of both the US and
Canada.
Now this battery technology can be leveraged not only for
propulsion, but to simultaneously power a vehicle refrigeration
unit as well – as demonstrated by the electrified refrigerated
concept truck body at Work Truck Week by Morgan Truck Body. Mounted
on a Lion6 chassis and utilizing a Thermo
King all-electric refrigerated unit, the concept also
features a 24-foot truck body that is seamlessly integrated with
Lion Electric's vehicle systems and powered by the vehicle's
onboard batteries – eliminating emissions and noise pollution
caused by diesel refrigeration units.
With new stake bed upfit options in addition to dry freight
bodies, the technology of the Lion6 can be leveraged for a wide
variety of vocations. Lion's new partnership with Knapheide brings
work fleets the option of an electrified lightweight aluminum
18-foot platform stake body, which also features an enclosed
storage pack behind the truck cab to secure work equipment. Lion
also debuted a larger stake upfit option for the Lion6 with a new
26-foot aluminum platform body in partnership with CM Truck Beds.
Additionally, an innovative dry freight body from Morgan Truck Body
was shown at Work Truck Week, leveraging lightweight materials for
improved payload and innovative aerodynamic features such as side
skirts to maximize range.
These new upfit equipment options make the Lion6 the perfect
zero-emission solution for the final stage of delivery, with all of
the advantages electric trucks have to offer – including an
advantageous total cost of ownership in comparison to internal
combustion engine vehicles. Adopting electric trucks can create
significant savings for operators, thanks to lower maintenance
requirements and reduced energy costs. With fewer moving parts and
preventative maintenance items such as lubricants, filters, belts
and more, Lion trucks offer maintenance savings of up to 60% and
energy savings of up to 80%.
Quotes:
"Morgan's collaboration with Lion Electric on our new
refrigerated concept body demonstrates our commitment to providing
innovative EV upfit solutions. We are firmly focused on providing
best in class solutions to our customers as they transition to a
zero-emission future."
--Tom Diez, Vice President Sales and
Marketing at Morgan Truck Body
"Thermo King is committed to
delivering our customers a fully electrified portfolio of
transportation solutions for every segment of the cold chain by
2025. Partnering with respected industry leaders and technology
innovators will help to further ensure that our new line of
electrified products maintain the same level of quality,
reliability and performance our customers expect from Thermo King."
-- Chris Tanaka, Vice President of
Product Management, Thermo King Americas
"Knapheide's Aluminum Platform is a perfect upfit on the Lion6
zero emission truck for a variety of last-mile delivery
uses. We are looking forward to collaborating with Lion and
their customers to meet their vocation needs and objectives in the
future."
--Mandar D. Dighe, Vice President,
Sales and Marketing, Knapheide
"CM Truck Beds is committed to the ever-changing dynamics of the
work truck space. As North America's number one manufacturer
of aluminum bodies, our products are positioned well in the EV
segment as we focus on added payload and increased towing capacity.
Our business is focused to environmentally safe manufacturing
processes and designing products for the zero-emissions
transportation segment. As our industry continues to change, we
will stand prepared to meet the needs of final destination fleets
who desire to maximize distance in their fleet operations while
transporting goods."
--Joe Lewis, Vice President of ATW
Truck Equipment, the business unit of ATW that includes CM Truck
Beds
About Lion Electric Company
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.
Lion Electric, The Bright Move
Thelionelectric.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities laws. Any
statements contained in this press release that are not statements
of historical fact, including statements about Lion's beliefs and
expectations, are forward-looking statements and should be
evaluated as such. Forward-looking statements may be identified by
the use of words such as "believe," "may," "will," "continue,"
"anticipate," "intend," "expect," "should," "would," "could,"
"plan," "project," "potential," "seem," "seek," "future," "target"
or other similar expressions and any other statements that predict
or indicate future events or trends or that are not statements of
historical matters, although not all forward-looking statements
contain such identifying words.
The Company made a number of economic, market and operational
assumptions in preparing and making certain forward-looking
statements contained in this press release including, but not
limited to, that Lion will be able to retain and hire key personnel
and maintain relationships with customers, suppliers and other
business partners, that Lion will continue to operate its business
in the normal course, that Lion will be able to implement its
growth strategy, that Lion will be able to successfully and timely
complete the construction of its U.S. manufacturing facility and
its Quebec battery plant and
innovation center, that Lion will not suffer any material
disruption in the supply of raw materials on competitive terms,
that Lion will be able to maintain its competitive position, that
Lion will continue to improve its operational, financial and other
internal controls and systems to manage its growth and size and
that its results of operations and financial condition will not be
adversely affected, that Lion will be able to benefit, either
directly or indirectly (including through its clients), from
government subsidies and economic incentives in the future and that
Lion will be able to secure any required additional funding through
equity or debt financing on terms acceptable to Lion. Such
estimates and assumptions are made by Lion in light of the
experience of management and their perception of historical trends,
current conditions and expected future developments, as well as
other factors believed to be appropriate and reasonable in the
circumstances. However, there can be no assurance that such
estimates and assumptions will prove to be correct.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Lion
believes that these risks and uncertainties include, but are not
limited to, the following: any adverse changes in the U.S. and
Canadian general economic, business, market, financial, political
and legal conditions, including as consequences of the global
COVID-19 pandemic and the emergence of COVID-19 variants and
varying rates of vaccination amongst various countries; Lion's
inability to successfully and economically manufacture and
distribute its vehicles at scale and meet its customers' business
needs; Lion's reliance on key management and any inability to
attract and/or retain key personnel; Lion's inability to execute
its growth strategy; Any unfavorable fluctuations and volatility in
the price of raw materials included in key components used to
manufacture Lion's products; Lion's reliance on key suppliers and
any inability to maintain an uninterrupted supply of raw materials;
Lion's inability to maintain its competitive position; Lion's
inability to reduce its costs of supply over time; any inability to
maintain and enhance Lion's reputation and brand; any significant
product repair and/or replacement due to product warranty claims or
product recalls; any failure of information technology systems or
any cybersecurity and data privacy breaches or incidents; the
reduction, elimination or discriminatory application of government
subsidies and economic incentives or the reduced need for such
subsidies; natural disasters, epidemic or pandemic outbreaks,
boycotts and geo-political events; the outcome of any legal
proceedings that may be instituted against the Company from time to
time.
These and other risks and uncertainties related to the
businesses of Lion are described in greater detail in the section
entitled "Risk Factors" in the Company's final prospectus dated
May 5, 2021 (the "Canadian
Prospectus") filed with the Autorité des marchés financiers (the
"AMF") and the registration statement on Form F-1 (the
"Registration Statement") filed with the Securities and Exchange
Commission (the "SEC") and declared effective on June 14, 2021 and other documents publicly filed
with the AMF and the SEC. Many of these risks are beyond Lion's
management's ability to control or predict. All forward-looking
statements attributable to Lion or persons acting on its behalf are
expressly qualified in their entirety by the cautionary statements
contained, and risk factors identified, in the Canadian Prospectus,
the Registration Statement and other documents filed with the AMF
and the SEC.
Because of these risks, uncertainties and assumptions, readers
should not place undue reliance on these forward-looking
statements. Furthermore, forward-looking statements speak only as
of the date they are made. Except as required under applicable
securities laws, Lion undertakes no obligation, and expressly
disclaims any duty, to update, revise or review any forward-looking
information, whether as a result of new information, future events
or otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lion-electric-announces-partnerships-with-leading-upfitters-and-new-truck-applications-at-ntea-work-truck-week-2022-301499455.html
SOURCE Lion Electric