JOLIET,
Ill., Aug. 11, 2022 /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 the company hosted U.S. Senator, Dick Durbin, Congressman Bill Foster (IL-11), Illinois Governor J.B. Pritzker Illinois
Manufacturer's Association President and CEO, Mark Denzler, and ComEd CEO, Gil Quiniones, Douglas
Aburano, EPA Manager, Air Programs Branch, Mayor of
Joliet, Bob O'Dekirk, and Haj Young, CEO of Econergy, as
part of a preview of its upcoming Joliet,
Illinois manufacturing facility.
A video recap of the event is available here:
https://youtu.be/iHi7r9GgHB4
Images of the event are available at the following link:
https://www.dropbox.com/sh/8geor0sborz0zur/AABRm7-NshSugenTn6iywE12a?dl=0
Guests at the event were invited to hear remarks regarding clean
manufacturing investments being made by the Federal Government, as
well as tour the facility and receive rides in Lion's all-electric
heavy-duty commercial trucks and school buses.
"We are very pleased to be hosting Senator Durbin, Congressman
Foster, Governor Pritzker, Mr. Denzler, Mr. Quiniones, Mr. Aburano
Mayor O'Dekirk and Mr. Young in Joliet today to preview the progress being
made at our facility, where we expect to start manufacturing
'Made-in-America' all-electric school buses by the end of the year.
This gave them the opportunity to experience our zero-emission
heavy-duty vehicles firsthand. The amount of support and excitement
we have been receiving from organizations and stakeholders
throughout Illinois has been
remarkable, and we look forward to continuing to grow our ties in
the state as we help to lead this new revival of clean
manufacturing in the U.S.," said Brian
Piern, Chief Commercial Officer at Lion Electric.
"In recent days Congress has worked to tackle some of the
biggest challenges facing Americans today – from energy bills and
climate change to supply chain constraints and polluted air – and
we have made historic progress," U.S. Senator Dick Durbin said. "The Inflation Reduction Act
makes key investments in American energy to both address climate
change and bring down energy bills and would create new good-paying
clean energy jobs in Illinois."
"I'm proud that manufacturers like Lion Electric are investing
right here in Illinois and helping
pave the way for our area to become a leader in the electric
vehicle industry. With world-class National Laboratories like Fermi
Accelerator National Laboratory and Argonne National Laboratory in
such close proximity, this industry will be supported by
cutting-edge research to drive the next generation of clean energy
technology. These investments will provide our region's diverse and
highly-skilled workforce with the tools to help build a cleaner,
stronger economy for tomorrow," said Illinois Representative Bill Foster (IL-11).
"Here in Illinois, we are
making our mark in the clean energy revolution," said Governor JB
Pritzker. "Lion Electric, with its largest national footprint in
Will County, is one of the
companies at the forefront. Together, we are creating new jobs—and
building a cleaner, more sustainable state, nation, and world."
"ComEd is proud to partner with Lion Electric to power their new
facility in Joliet, which will
play a critical role in helping meet increased demand for EVs here
in Illinois and around the
country," said Gil C. Quiniones, CEO
of ComEd. "Working with partners from state and federal government
and the business community, ComEd is committed to making the
investments needed today to support our customers in making a
transition to EVs and other clean technologies that will improve
air quality and enhance the health of our communities most impacted
by pollution. This collaboration is essential as we work to combat
climate change and create a clean energy future for all in
Illinois."
"Amazing and innovative manufacturers like Lion Electric are
leading the way forward to a cleaner and more sustainable future.
Manufacturers have reduced emissions more than any other sector
since 1990 while increasing economic output. Zero-emission buses
that will be built in Illinois and
funded under the Clean School Bus Program will help school
districts across the entire state update their fleets used to
transport children, while Lion's heavy-duty all-electric trucks
will aid in efforts to decarbonize commercial fleets," said
Mark Denzler, President and CEO,
Illinois Manufacturer's Association.
The event represents the second major congressional visit to
Lion's upcoming state-of-the art manufacturing facility in
Joliet, and highlighted
investments being made in electrification as part of the
Infrastructure Investment and Jobs Act (IIJA). The IIJA sets aside
$5 billion in funding for the
adoption of clean school buses to be administered by the EPA, along
with $7.5 billion to build out
critical charging infrastructure throughout the country to speed
the transportation sector's transition to electrification.
Applications for the EPA Clean School Bus program are open now with
the first round of $500 million
closing August 19. Lion believes it
is ideally positioned to help customers apply for secure this
funding with its dedicated grants team of industry experts.
Lion is building its 900,000 square foot facility in
Joliet, which will be the
company's largest footprint in the U.S. and will support Lion in
addressing the increasing demand in the marketplace for
"Made-in-America" zero-emission vehicles. The company is on track
to begin commercial production of 100% electric vehicles in
Joliet in the second half of
2022.
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.
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 Canadian and
United States securities laws,
including the Private Securities Litigation Reform Act of 1995. Any
statements contained in this press release that are not statements
of historical fact, including statements about Lion's beliefs and
expectations relating to the offer and sale of Common Shares under
the ATM Program, 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. These forward-looking statements include
statements regarding the offer and sale of Common Shares under the
ATM Program, including the timing and amounts thereof, and the use
of any proceeds from the ATM Program.
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. Such risks
and uncertainties are described in greater detail in the Canadian
Prospectus Supplement, the US Prospectus Supplement and section
23.0 entitled "Risk Factors" of the Company's annual MD&A for
the fiscal year 2021. Many of these risks are beyond Lion's
management's ability to control or predict. All forward-looking
statements included in this press release are expressly qualified
in their entirety by the cautionary statements contained herein and
the risk factors included in the Canadian Prospectus Supplement,
the US Prospectus Supplement, the Company's annual MD&A for the
fiscal year 2021 and in other documents filed with the applicable
Canadian regulatory securities authorities 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.
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SOURCE Lion Electric