A consortium led by entrepreneur and Lion board member Pierre Wilkie agreed to buy the electric bus and truck manufacturer out of insolvency. Court filings didn’t reveal the price of Wilkie’s winning bid for the Quebec-based company, which struggled to cope with a slowdown in the EV industry. (The Logic)

Talking point: The deal must first be approved in Quebec court, where hearings began on Friday and will continue next Wednesday. Wilkie’s bid would retain a portion of employees and keep Lion Electric in the hands of local businesspeople, company lawyers argued in court filings. Not everyone is as impressed with the offer. The U.S. Department of Justice filed an objection, arguing the Environmental Protection Agency needed time to review the deal. Wilkie previously led companies like MAC Metal, which makes steel siding and roofing, and Laboratoire Dr Renaud, a skin care company. The consortium of prospective owners also includes real estate mogul Vincent Chiara.