Days after it received a conditional purchase for 1,000 electric buses, The Lion Electric Company (TSX: LEV) announced this morning the receipt of the purchase order from family-owned transport firm Groupe Autocar Jeannois. The latter is ordering a total of 39 electric school buses.
As per the order, the Quebec-based transport carrier is ordering 35 LionC school buses to be delivered over the next five years, with the option to purchase an additional five. The order also includes the purchase of 4 LionM buses to be delivered over the next four years. Currently, Groupe Autocar Jeannois has existing three LionC all-electric buses.
“This is excellent news for the region as 39 all-electric buses will be added to Groupe Autocar Jeannois’ fleet over the next five years,” said Lion Electric CEO Marc Bedard. “This means that hundreds of children and adults will ride zero-emission buses in the Saguenay-Lac-St-Jean region, protecting their health and the environment in which they live.”
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In addition to the purchase order, the automaker also announced that Groupe Autocar Jeannois will be the first Lion Electric authorized service center for the region of Saguenay-Lac-St-Jean.
The Lion Electric Company last traded at $16.39 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
