No more public money for Lion Electric, Quebec government says

The Canadian Press

· Posted: May 01, 2025 2:16 PM EDT | Last Updated: 3 hours ago

The Quebec authorities says it won't put much nationalist wealth successful Lion Electric, putting the electric-vehicle maker's aboriginal successful doubt.

Economy Minister Christine Fréchette said successful a connection Wednesday evening that it wouldn't beryllium liable to inject much authorities funds into the struggling company.

She said that portion the state has a work to enactment Quebec businesses, Lion's betterment program precocious submitted to the authorities "did not justify" much nationalist funding.

The company, headquartered successful St-Jérôme, Que., sought creditor extortion successful December and has since been seeking a buyer.

Founded successful 2008, Lion made its people aft it launched its electric schoolhouse bus, which has been connected the roadworthy for implicit a decade. It besides manufactures electrical trucks.

Reports this week said a radical of Quebec investors was funny successful buying the institution but needed $20 cardinal successful authorities assistance — a connection that was presented to Premier François Legault's caucus this week.

Speaking to reporters astatine the National Assembly Thursday morning, Legault said the authorities had to instrumentality a "responsible decision."

He said it volition guarantee that different companies follow up connected the attraction of Lion Electric buses that person already been sold.

The Quebec authorities has already invested $177 cardinal successful Lion Electric.