The electric-bus and truck maker said it’s eliminating manufacturing, product development and administrative roles in both Canada and the U.S. to reach its profitability goals. Its shares fell more than 3.5 per cent on the Toronto Stock Exchange Monday. (The Logic)

Talking point: The firm posted record revenue in its third-quarter results earlier this month. But CEO Marc Bedard said in the earnings report that he planned to “relentlessly focus on all the elements that will enable us to reach our profitability” amid a quarterly net loss of US$19.9 million, wider than the same period last year. Recently, other EV manufacturers have raised concerns that economic strain could sandbag EV demand. On Monday, U.S.-based battery startup Our Next Energy announced it would lay off 128 workers, about 25 per cent of its staff, “in response to market conditions.”