Lion Électrique is carrying out another workforce reduction by laying off 100 employees at its Saint-Jérôme factory, in the Laurentians. The manufacturer of electric buses and trucks, which is trying to reduce its costs, laid off 150 employees last fall.
The Quebec company made the announcement Thursday, publishing its fourth quarter results, which ended with a net loss of 56.5 million, or 25 cents per share, while its revenues climbed 30%. , at 60 million.
“The past year has not been without challenges, particularly due to the volatile environment which has slowed the pace of orders and deliveries,” Lion founder and CEO Marc Bédard said in a press release. in a press release.
These layoffs were notably attributed to Ottawa’s slowness in processing grant applications under Infrastructure Canada’s Zero Emissions Public Transit Fund (ZFTP). This program aims to accelerate electrification among public transport and school bus operators. Several announcements made by Lion regarding school bus orders in Canada highlighted that the contract was also conditional on obtaining grants from the Fund.
During the months of October, November and December, the company delivered 188 electric vehicles, which represents an increase of 8% compared to the same period last year.
As of February 28, Lion’s order book reached 500 million, or 285 trucks and 1,791 buses.