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"EV Maker Lion Electric Nears Creditor Deadline As Cash Dwindles; Two-Week Extension With Creditors Ends This Saturday; Bus, Truck Maker Is Suffering From Supply Chain Disruptions" - Bloomberg News

Benzinga·11/29/2024 16:06:23
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https://www.bloomberg.com/news/articles/2024-11-29/ev-maker-lion-electric-nears-creditor-deadline-as-cash-dwindles

 

Canada's electric truck and bus manufacturer Lion Electric Co. is up against a deadline this weekend to find new investors amid a cash crunch and an EV market that's in turmoil.

The St-Jerome, Quebec-based company said on Nov. 18 that it had received a two-week extension of its credit agreement with three lenders, as well as temporary relief on the conditions of a loan provided by the Caisse de Depot et Placement du Quebec and Finalta Capital Inc.