Group of investors submits revised offer to buy Quebec-based Lion Electric

Canadian electric minibus manufacturer to build first US plant in Peoria

As Lion Electric faces liquidation and the auction of its shuttered Joliet electric bus factory, the state has announced another Canadian EV bus manufacturer will be opening a plant in Peoria. Damera Corp., an Ontario-based electric bus company, plans to invest $31.5 million and create 90 full-time jobs to open its first U.S. assembly plant, backed by state tax incentives. The leased 55,000-square-foot facility will be used to sell, service and …

Lion Electric is on the verge of completing a transaction that would allow it to eventually resume its activities. An agreement with a group of investors could be approved by the Superior Court by the end of the week.

Group of investors submits revised offer to buy Quebec-based Lion Electric

A previous offer fell through because it was conditional on government funding, which the province refused last month

Group of Investors Submits Revised Offer to Buy Quebec-Based Lion Electric

A group of investors has submitted a revised offer to buy Quebec vehicle-maker Lion Electric. A previous offer fell through because it was conditional on government funding, which the province refused last month. But court documents say the buyers have reached an agreement with the Quebec government to renew a recently expired subsidy program for electric school buses. They made a new offer to buy the struggling company on Friday. The court-appo…

They revised their proposal after Quebec closed the door to government funding.

Québec would have committed itself to investors interested in the acquisition of Lion électrique to renew the School Transportation electrification program.