Logotype for The Lion Electric Company

The Lion Electric Company (LEV) investor relations material

The Lion Electric Company Investor Presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for The Lion Electric Company
Investor Presentation summary7 Nov, 2024

Business overview

  • Specializes in all-electric medium and heavy-duty urban vehicles, with 14+ years of R&D and manufacturing experience and over 2,200 vehicles on the road, accumulating 32M+ miles.

  • Offers a full turnkey solution for fleet electrification, including vehicle selection, charging infrastructure, grants support, financing, training, maintenance, and telematics.

  • Manufacturing capacity includes 2,500 vehicles/year in St-Jerome, 2,500 vehicles/year in Joliet, IL, and 1.7 GWh battery production at Mirabel, QC.

  • Product lineup includes purpose-built electric school buses and medium/heavy-duty trucks, all designed and assembled in-house with proprietary technology.

  • Operates 12 experience centers across the U.S. and Canada to support customer transition to electric fleets.

Market and customers

  • Established leader in the all-electric school bus segment, with 1,900+ deliveries and an order book of 1,450+ school buses.

  • School bus electrification is supported by strong regulatory tailwinds, including the $5B EPA Clean School Bus Program and other major U.S. and Canadian incentives.

  • Order book as of November 6, 2024, includes 1,590 electric vehicles (~$420M), 1,455 all-electric buses, and 366 all-electric trucks, with a significant portion contingent on government subsidies.

  • Key clients include major school districts, public transit agencies, and large commercial fleets such as Amazon, DHL, CN, and Canada Post.

  • The company’s ability to convert its order book into sales is highly dependent on the timely granting of governmental subsidies and incentives.

Financial highlights

  • Q3 2024 revenue was $30.6M, down from $80.3M in Q3 2023; gross loss of ($16.0M) compared to a gross profit of $5.4M in Q3 2023.

  • Adjusted EBITDA for Q3 2024 was ($19.5M) and net loss was ($33.9M), both deteriorating from Q3 2023.

  • Delivered 89 vehicles in Q3 2024 (71 buses, 18 trucks), split almost evenly between Canada and the U.S.

  • Immediate liquidity stood at approximately $27M as of September 30, 2024, with inventory reduced by $35M year-to-date.

  • There is material uncertainty regarding the company’s ability to continue as a going concern, with ongoing efforts to raise additional funds and manage liquidity.

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Frequently asked questions

The Lion Electric Company is an innovative manufacturer of zero-emission vehicles. The company builds all-electric medium and heavy-duty urban trucks, and all-electric buses and minibuses for the school, paratransit, and mass transit segments. The Lion Electric Company's vehicles offer a lower total cost of ownership than their diesel equivalents, allowing customers to save money while helping the environment at the same time.

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