Overview

• A consortium led by Pierre Wilkie and Vincent Chiara has reached a definitive agreement to acquire and recapitalize Lion Electric, pending court approval.
• The deal, supported by a $480 million provincial subsidy program for electric school buses, ensures the company can continue operations in Quebec.
• Lion Electric will cease to be publicly traded, likely wiping out retail shareholders under the terms of the reverse vesting recapitalization plan.
• The agreement preserves the St-Jérôme manufacturing plant but includes permanent layoffs and a strategic refocus on Quebec-made electric school buses.
• Quebec's renewed subsidy program increases rebates to $240,000 per electric bus and aims to electrify 65% of the province's school bus fleet by 2030.