Companies bidding on Lion Electric get one-week extension
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Hey there, time traveller!
This article was published 07/03/2025 (275 days ago), so information in it may no longer be current.
MONTREAL – Companies interested in buying or liquidating Quebec electric vehicle maker Lion Electric Co. have been given an extension to make offers.
Bids were due March 7, but the company’s court-appointed monitor has announced that deadline has been pushed to March 14 at 5 p.m.
Lion Electric built school buses and trucks at plants in Quebec and Illinois and has about 2,200 vehicles on the road, but went through several rounds of layoffs last year and has halted production.
The company, based in St-Jérôme, Que., obtained protection from its creditors in December and is seeking a buyer with a restructuring plan that would focus only on school buses and return all manufacturing to Quebec.
A report to the Quebec Superior Court last month said potential buyers and liquidators were interested in the company, but did not say how many.
Shareholders filed a class-action lawsuit against the struggling company in February, claiming it misrepresented its financial health to investors.
This report by The Canadian Press was first published March 7, 2025.