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. The company obtained creditor protection under the CCAA and implemented workforce reductions as part of ongoing restructuring proceedings.
Cyborg Score Rationale
The company obtained creditor protection under CCAA as of December 18, 2024, with court approval for a sale and investment solicitation process (SISP) and debtor-in-possession financing. Trading of LEV shares has been suspended on both NYSE and TSX, with both exchanges initiating delisting proceedings.
Top Insights
Company obtained creditor protection under CCAA (December 2024) and reduced workforce under DIP financing terms
Vehicle order book stands at 1,590 units worth approximately $420 million
Commenced customer deliveries of LionD electric school buses in California (January 2024)
Approximately 160 remaining employees focus on customer support, maintenance, and servicing of school buses and trucks
Named Competitors
New Flyer Industries — Large commercial bus manufacturer expanding electric bus offerings
BYD — Global leader in electric bus manufacturing and EV production
Proterra — Electric bus manufacturer (filed bankruptcy 2022)