Lion Electric to invest $185 million in Battery Manufacturing Plant and Innovation Center at Quebec

Specifications:

Name:

Lion Electric to invest $185 million in Battery Manufacturing Plant and Innovation Center at Quebec

Location:

Quebec

Company:

Lion Electric

Estimated Cost:

$185 million

Source:

thelionelectric.com

Introduction:

Lion Electric (Lion), an innovative manufacturer of all-electric trucks and buses, announced the construction of a battery manufacturing plant and innovation center in Quebec.

Features:

Utilizing cutting-edge technology, the factory is planned to begin operations in early 2023 and will produce battery packs and modules made from Lithium-ion cells. Construction is projected to break ground over the next few months at a location to be confirmed in the near future.

The project and its development represent an investment of approximately $185 million CAD by Lion, who will benefit from important support by the federal and provincial governments of approximately $100 millionCAD (amounting to $50 million CAD each).

With the construction of the plant, Lion predicts to see a considerable reduction in the cost of its vehicle manufacturing while ensuring control and optimization of a key component of its vehicle supply chain.

Given the battery is the most expensive component of an electric vehicle, this new manufacturing capability will have a direct impact on the development of heavy-duty electric transportation while also offering important environmental and economic benefits.