Quebec-based electric vehicle company Lion Electric wants to put truck manufacturing on hold and focus on school buses as part of a restructuring plan that would bring all production operations back to Quebec.
The troubled company, which filed for creditor protection under the Companies’ Creditors Arrangement Act last month, is looking for a buyer. It has suspended operations and laid off most of its employees.
However, a sales pitch distributed to potential buyers indicates that the company could be profitable if it produced 550 buses a year at its manufacturing plant in Saint-Jérôme, in the Laurentians. This would represent about a fifth of the plant’s capacity of 2,500 vehicles a year.
A report filed with Quebec Superior Court on Friday indicates that 136 potential buyers have been approached since Lion Electric obtained protection from its creditors on Dec. 19. According to the same document, 11 companies have shown an interest …