Quebec's electric bus maker Lion Electric eyes sale amid losing $131M, massive layoffs, and stock plunge.

Quebec's electric bus maker Lion Electric is considering selling the company due to financial difficulties. The firm has lost over $131 million in the past year, laid off more than 40% of its workforce, and seen its stock drop over 80% from its 2021 peak. Lion Electric has also negotiated a two-week extension on a credit agreement with its lenders, pushing the deadline to November 30th.

November 18, 2024
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