Lion Electric delivered 105 electric vehicles in Q2

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Lion Electrical delivered 105 automobiles within the second quarter, up from 61 the identical interval final 12 months, and grew its income to $29.5 million (all figures U.S.) from $16.7 million in Q2 2021.

Nonetheless, it posted a gross lack of $3.5 million in comparison with a revenue of $0.9 million within the second quarter of 2021. The Quebec-based electrical truck and bus producer says it now has greater than 700 automobiles on the street with greater than 10 million miles pushed.

Its order e-book as of Aug. 4 has 2,357 items in it, together with 286 vans. These orders are price $575 million, Lion reported in its Q2 earnings. It additionally has 226 charging stations and associated companies on order.

In different information, Lion stated it has begun putting in meeting stations at its Joliet, Sick., manufacturing plant, however will initially concentrate on bus manufacturing there. The shell is full at its battery plant, and the inspiration and metal construction at its Innovation Heart are 90% full, the corporate reviews.

Lion6 battery-electric truck
Lion6 (Photograph: John G. Smith)

Lion is at the moment conducting prototype testing on its battery packs, which can be constructed at its Mirabel, Que.-based battery plant.

“We’re happy with our Q2 efficiency, as regardless of ongoing provide chain challenges, for the third quarter in a row, we delivered a report variety of automobiles within the historical past of Lion,” stated Marc Bedard, CEO and founding father of Lion. “As we’re nearing the beginning of operations at our U.S. manufacturing facility and our battery plant, we additionally determined to regulate the cadence of our capital spend. It will allow us to speed up return on funding and optimally handle our capital sources.”

In the meantime, the corporate has bolstered its U.S. gross sales efforts by hiring Sydney Dunn as vice-president of truck gross sales – U.S., and Dominik Beckman as vice-president of promoting and communications – U.S.

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