The electric van and bus maker said the layoffs mostly affect night shift workers at its Saint-Jérôme plant. In a filing, the company cited delays in the Canadian government and Canada Infrastructure Bank’s Zero Emission Transit Fund as a factor in its decision. Lion shares fell about 13 per cent on the Toronto Stock Exchange Thursday. (The Logic)

Talking point: Lion said more than half its orders are stuck in the sluggish ZETF grant program. Its latest layoffs come after cutting about 150 jobs in the U.S. and Canada in November. In its earnings report, Lion said fourth-quarter revenue rose 29 per cent from a year ago to US$60.4 million, but its quarterly net loss widened to US$56.5 million from US$4.6 million year over year after it delayed commercial production of two minibus models. Meanwhile, fellow Canadian bus maker NFI’s shares fell nearly three per cent after its Thursday earnings report. NFI said its supply chain is improving and it plans to hire more workers, but inflation is dragging down margins on legacy contracts.