Group of investors to purchase struggling Canadian vehicle maker [Video]

A group of Quebec investors has reached a deal to acquire and relaunch struggling vehicle-maker Lion Electric.

The consortium of investors is led by Pierre Wilkie, a director of the electric-vehicle manufacturer, and Vincent Chiara, president of Montreal real estate developer Groupe MACH.

Lion Electric, which sought protection from its creditors in December, announced the sale Thursday evening and will present the agreement to a Quebec Superior Court judge Friday morning.

The deal comes after the Quebec government refused last month to inject any more public funds into the company, which had been a condition of a previous offer by the group of investors. The court-appointed monitor for the company suggested at the time that Lion Electric, which manufactured electric school buses and trucks, would likely face liquidation after that deal fell through.

But last week, the investors made a new offer after receiving confirmation that Quebec would renew a …