Electric bus maker Lion Electric lays off 400 workers, halts Illinois plant production amid financial struggles.

Electric bus maker Lion Electric has temporarily laid off 400 workers and halted production at its Illinois plant after receiving a two-week extension from its creditors. This follows three previous rounds of layoffs this year affecting nearly 520 jobs. The company reported a net loss of $33.9 million in Q3 2024. The extension allows Lion Electric to explore options like selling the business or seeking creditor protection, but no guarantees are given for a resolution.

December 01, 2024
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