The Superior Court of Quebec granted the electric-vehicle maker protection under the Companies’ Creditors Arrangement Act. Lion said it will continue day-to-day operations, including helping customers maintain their fleets of trucks and buses. Lion will begin soliciting bidders to buy some or all of its business between now and Jan. 7, according to court filings, with opening bids due in February and a potential auction in March. (The Logic)

Talking point: Lion is one of many automakers struggling after overestimating the pace of EV adoption. The filings may ease fears among bus operators that they would lose access to key parts and services during a potential bankruptcy. But it also raises questions about who may bid for the business, which hasn’t generated operating income since 2021. It has about half a billion U.S. dollars in liabilities and US$26.3 million in cash. “The Lion Group is now at a crossroads: in order to carve out a place in the highly competitive EV market, the Lion Group needs a large influx of liquidity,” the filings say.