The governments of Quebec and Ottawa are each loaning $50 million to the Saint-Jérôme, Que.-maker of electric trucks and buses. The funds will go towards Lion’s $185-million battery assembly plant, which will open in 2023 and ultimately employ as many as 285 people. The federal government’s contribution is from the Strategic Innovation Fund, while Quebec’s comes courtesy of Investissement Québec, the province’s investment entity. (The Logic)
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The governments of Quebec and Ottawa are each loaning $50 million to the Saint-Jérôme, Que.-maker of electric trucks and buses. The funds will go towards Lion’s $185-million battery assembly plant, which will open in 2023 and ultimately employ as many as 285 people. The federal government’s contribution is from the Strategic Innovation Fund, while Quebec’s comes courtesy of Investissement Québec, the province’s investment entity. (The Logic)
Talking point: Located about 45 minutes north of Montreal, Lion has an agreement to deliver up to 2,500 trucks to Amazon by 2030—with Jeff Bezos’s outfit having the option to purchase up to 20 per cent of the company. Lion is set to go public on the NYSE via a merger with the special-purpose acquisition company Northern Genesis Acquisition. As The Logic reported in January, the company considered building the plant Stateside as a result of the federal government’s dragging feet.
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