Lion Electric likely to be liquidated, court-appointed monitor says
By Canadian Press on May 5, 2025.
SAINT-JÉRÔME — The court-appointed monitor for Lion Electric says the vehicle maker is very likely to be liquidated after the Quebec government refused to invest more public funds in the company.
Jean-François Nadon, a representative of Deloitte, said in a court hearing this morning that government aid would have been a condition of any sale of the struggling company.
Nadon says Deloitte sought offers over the weekend from companies interested in liquidating Lion Electric, and is hoping to finalize a transaction by next Monday.
He says Lion laid off all but 12 of its employees after the government announced last Wednesday it would not inject any more public money into the Quebec-based electric-vehicle maker.
News reports last week said a group of buyers was seeking $24 million from the province to relaunch the company, but the economy minister said it would be irresponsible to invest more government funds.
Lion Electric, which made electric school buses and trucks, sought protection from its creditors in December and has been seeking a buyer since then.
This report by The Canadian Press was first published May 5, 2025.
The Canadian Press
11-10
Green energy innovation is very lucrative to perhaps a CEO and a few managers. As long as tax-payers are propping up the parasites. Promoted by lies and ideology, a lot of my and your tax dollars are gone. Gone from us,that is. There are a few friends of the liberals now enjoying a life of opulence. They are green ,tho. Gotta save the planet you know. More lies.