Québec Government, Investissement Québec, Fonds de solidarité FTQ and Fondaction Invest US$74 Million in Lion Electric
by CM staff
The investment will strengthen the company's financial position and support its growth strategy.
MONTRÉAL — The Government of Québec, Investissement Québec, Fonds de solidarité FTQ and Fondaction announced an investment of approximately US$74 million in Québec flagship company Lion Electric Company. The proceeds from this investment will be used to strengthen the company’s financial position and allow it to pursue its growth strategy. This investment is being made in conjunction with an investment of C$90M from a group of subscribers led by Mach Group and the Mirella & Lino Saputo Foundation.
“This financing is a key milestone for Lion in that it provides us with flexibility to execute our growth plans. We are extremely thankful to the Government of Québec and Investissement Québec for their ongoing support, and to the new investors joining this round, including the Fonds de solidarité FTQ, Fondaction and a private consortium led by Mach Group Group and Mirella Foundation and Lino Saputo,” said Marc Bédard, CEO-Founder of Lion. “The diversity of this group, which stems both from the public and private sectors, speaks to the importance of Lion in the EV landscape.”
“Lion already offers vehicles designed from the ground up to be electric and intends to capitalize on this advantage to develop its brand and capture more market share. Thanks to Lion, Saint-Jérôme has become a hub for transportation electrification and sustainable mobility in Québec,” said Youri Chassin, MNA for Saint-Jérôme and Parliamentary Assistant to the Minister of Health.
