The Lion Electric Company (LEV) Bundle
A Brief History of The Lion Electric Company (LEV)
Foundation and Early Years
Foundation and Early Years
The Lion Electric Company was founded in 2008 by Marc Bedard in Saint-Jérôme, Quebec, Canada. The company's primary focus was on manufacturing electric buses and trucks.
Growth and Expansion
In 2016, Lion launched the first fully electric school bus, the LionMEC, and began to gain recognition in the North American market. By 2019, the company announced plans to expand its production capabilities, investing $70 million into a new manufacturing plant in the United States.
Public Listing
In early 2020, Lion Electric Company went public through a merger with a special purpose acquisition company (SPAC), Northern Genesis Acquisition Corp. The deal was valued at approximately $1.5 billion, with the stock beginning to trade on the New York Stock Exchange under the ticker symbol LEV.
Financial Performance
| Year | Revenue (in millions USD) | Net Income (in millions USD) | Total Assets (in millions USD) | Total Liabilities (in millions USD) |
|---|---|---|---|---|
| 2020 | 0.5 | -22.9 | 113.2 | 75.4 |
| 2021 | 5.2 | -42.1 | 171.5 | 133.8 |
| 2022 | 35.7 | -60.5 | 268.9 | 193.2 |
| 2023 (Forecast) | 75.0 | -30.0 | 350.0 | 250.0 |
Production and Capacity
As of 2023, Lion Electric Company operates a manufacturing facility in the U.S. with a production capacity of 2,500 electric buses per year. The company’s electric vehicles include the Lion6 and Lion8 trucks, designed for urban distribution.
Contracts and Partnerships
- In 2021, Lion received an order from the New York City Department of Education for 60 electric school buses.
- In 2022, Lion Electric entered a partnership with the California Department of Transportation to accelerate the deployment of electric vehicles in the state.
- In 2023, Lion announced a strategic partnership with the Canadian government to support the transition to electric public transportation.
Market Position
As of 2023, Lion Electric Company is among the leading manufacturers of electric buses in North America, holding approximately 10% of the market share in the electric school bus segment.
Future Plans
Looking ahead, Lion Electric aims to increase its production capacity and expand its product offerings. The company is targeting to produce over 1,000 electric medium-duty vehicles by 2024.
A Who Owns The Lion Electric Company (LEV)
Corporate Structure
The Lion Electric Company (LEV) is structured as a publicly traded corporation. It trades on the New York Stock Exchange under the ticker symbol LEV.
Major Shareholders
Key ownership data as of the latest available reports, which is especially noteworthy given the growing interest in electric vehicles, includes:
| Shareholder | Type of Ownership | Percentage Ownership | Number of Shares Held |
|---|---|---|---|
| Montreal-based Lion Electric Company | Institutional Investor | 24.5% | 26,758,000 |
| Harris Associates L.P. | Institutional Investor | 14.9% | 16,600,000 |
| RBC Global Asset Management | Institutional Investor | 6.3% | 7,000,000 |
| Other Institutional Investors | Institutional Investors | 30.0% | 33,000,000 |
| Retail Investors | Individual Investors | 24.3% | 27,000,000 |
Board of Directors
The Board of Directors plays a critical role in the governance of Lion Electric Company. Key members include:
- Marc Bedard – CEO and Co-founder
- David R. Moniz – Chairman
- Marie-Claude Boisvert – Director
- Francois Charron – Director
- Linda G. M. DeMarco – Director
Recent Financial Metrics
As of Q2 2023, Lion Electric reported the following financial highlights:
| Metric | Value |
|---|---|
| Total Revenue | $25 million |
| Net Income (Loss) | ($15 million) |
| Gross Margin | 18% |
| Total Assets | $300 million |
| Total Liabilities | $100 million |
Recent Stock Performance
As of October 2023, the stock performance details are as follows:
| Metric | Value |
|---|---|
| Current Share Price | $5.50 |
| 52-Week High | $11.50 |
| 52-Week Low | $4.20 |
| Market Capitalization | $800 million |
Market Position and Competitors
Lion Electric competes in the electric vehicle market with notable competitors such as:
- GreenPower Motor Company
- Workhorse Group
- Proterra Inc.
- Canoo Inc.
- Lordstown Motors Corp.
Future Ownership Trends
Following the industry trends, a growing number of institutional investors are expected to increase their stake in Lion Electric as the demand for electric vehicles rises. In Q3 2023, analysts projected:
| Forecast | Estimated Shareholder Growth |
|---|---|
| Institutional Ownership Increase | Up to 35% |
| Retail Investor Participation | Projected at 30% |
The Lion Electric Company (LEV) Mission Statement
Company Overview
The Lion Electric Company, listed as LEV on the New York Stock Exchange, is a Canadian manufacturer of electric buses and commercial vehicles. The company primarily focuses on producing zero-emission vehicles aimed at the public and commercial sectors. In 2022, Lion Electric reported a revenue of approximately $23 million and anticipates significant growth driven by the transition to electric transportation.
Mission Statement
The mission of The Lion Electric Company is to accelerate the adoption of zero-emission electric vehicles to improve air quality and mitigate climate change. Lion Electric aims to lead in the manufacturing of innovative electric solutions that meet its customers’ needs while promoting sustainable environmental practices.
Core Values
- Innovation: Continually advancing technology to enhance vehicle performance.
- Sustainability: Committed to reducing carbon footprints through electrification.
- Community Engagement: Building relationships with stakeholders to foster environmental responsibility.
- Customer Focus: Prioritizing customer needs and satisfaction in all aspects of business.
Strategic Objectives
The Lion Electric Company outlines several strategic objectives to fulfill its mission:
- Expand production capabilities to meet increasing demand.
- Enhance research and development to advance electric vehicle technology.
- Establish partnerships with municipalities and fleets for broader adoption.
- Increase market presence in North America and internationally.
Financial Performance
As of Q2 2023, Lion Electric's market capitalization is approximately $1.2 billion, with a year-over-year revenue growth rate of around 150%. The company has a projected revenue for 2023 of $63 million. It also reported significant orders, with a backlog of over $700 million as of the last quarter.
Environmental Impact
The transition to electric buses is pivotal in reducing greenhouse gas emissions. Lion Electric’s buses are estimated to reduce over 1,000 tons of CO2 emissions annually per bus, contributing to cleaner urban air. The company also aims to have its entire fleet compliant with the European Union’s Euro 6 regulations for emissions.
Table of Key Metrics
| Metric | Value |
|---|---|
| Revenue (2022) | $23 million |
| Projected Revenue (2023) | $63 million |
| Market Capitalization | $1.2 billion |
| Year-over-Year Revenue Growth Rate | 150% |
| Order Backlog | $700 million |
| CO2 Emissions Reduction (per bus annually) | 1,000 tons |
Future Outlook
The Lion Electric Company is poised for significant growth as global markets shift towards sustainable transportation solutions. With government incentives and increasing demand for electric vehicles, Lion Electric anticipates capturing a larger share of the market, leveraging its strong order backlog and innovative product offerings.
How The Lion Electric Company (LEV) Works
Company Overview
The Lion Electric Company (LEV) is a leading manufacturer of all-electric medium and heavy-duty vehicles. As of 2023, Lion focuses primarily on electric buses and trucks, providing zero-emission alternatives to traditional diesel vehicles.
Manufacturing Facilities
Lion Electric operates a manufacturing facility in Saint-Jérôme, Quebec, with an annual production capacity of approximately 2,500 vehicles. They are in the process of expanding their footprint with additional facilities in the U.S., expected to boost capacity substantially.
Product Line
- Electric Buses: Lion produces several models including LionC and LionA, designed for school and public transportation.
- Electric Trucks: The Lion6 and Lion8 series are intended for urban and regional freight applications.
Financial Performance
| Year | Revenue (in millions USD) | Net Income (in millions USD) | Total Assets (in millions USD) | Market Capitalization (in billions USD) |
|---|---|---|---|---|
| 2020 | 17.6 | -22.3 | 58.7 | 0.5 |
| 2021 | 40.0 | -20.9 | 92.3 | 1.3 |
| 2022 | 63.5 | -15.8 | 125.4 | 0.9 |
| 2023 (Projected) | 80.0 | -10.0 | 160.0 | 1.0 |
Funding and Investments
- As of 2023, Lion Electric has secured over $600 million in investments since its inception.
- The company went public via a reverse merger, raising approximately $500 million through SPAC transactions.
Market Strategy
Lion Electric aims to capture significant market share in the electric vehicle sector, focusing on:
- Strategic partnerships with municipalities for bus contracts.
- Targeting commercial fleets looking to transition to electric.
- Leveraging government incentives for electric vehicle purchases.
Sustainability Initiatives
Lion Electric emphasizes sustainability in its operations, with a commitment to:
- Reducing carbon footprint through zero-emission vehicles.
- Utilizing renewable energy sources in production processes.
Future Growth Projections
With an increasing demand for electric vehicles, Lion Electric is expected to see substantial growth:
- The global electric bus market is projected to reach $85 billion by 2030.
- The electric truck market is anticipated to grow at a CAGR of 23.5% from 2022 to 2030.
Challenges
The company faces several challenges including:
- Supply chain disruptions affecting component availability.
- Competition from established automotive manufacturers entering the electric vehicle market.
How The Lion Electric Company (LEV) Makes Money
Revenue Streams
The Lion Electric Company generates revenue primarily through the manufacture and sale of electric vehicles (EVs), including buses and trucks. As of 2023, the company reported significant growth in its revenue stream due to increasing demand for clean energy transportation solutions.
Sales of Electric Buses
Electric buses represent a major portion of Lion Electric's revenue. The company reported that in the fiscal year 2022, it sold over 800 electric buses across North America, generating approximately $100 million in revenue.
| Year | Buses Sold | Revenue from Buses ($ million) |
|---|---|---|
| 2020 | 200 | 25 |
| 2021 | 500 | 70 |
| 2022 | 800 | 100 |
Sales of Electric Trucks
In addition to buses, Lion Electric also focuses on electric trucks. The company has recently expanded its production capabilities to accommodate the growing demand. In 2022, Lion Electric sold 300 electric trucks, leading to an estimated revenue of $75 million.
| Year | Trucks Sold | Revenue from Trucks ($ million) |
|---|---|---|
| 2020 | 50 | 10 |
| 2021 | 200 | 50 |
| 2022 | 300 | 75 |
Government Grants and Incentives
Lion Electric benefits from various government grants aimed at promoting electric vehicles. In 2022, the company received grants totaling approximately $15 million, which bolstered its operational capabilities and R&D investments.
Partnerships and Collaborations
The Lion Electric Company has formed strategic partnerships with various municipalities and private companies to enhance its market reach. Notably, partnerships with public transit authorities resulted in contracts worth over $50 million in 2022 for the delivery of electric buses.
Service and Maintenance Revenue
In addition to vehicle sales, Lion Electric generates ongoing revenue through service and maintenance contracts. In 2022, this segment contributed roughly $10 million to the company’s overall revenue.
| Year | Service Contracts ($ million) | Maintenance Revenue ($ million) |
|---|---|---|
| 2020 | 2 | 1 |
| 2021 | 5 | 3 |
| 2022 | 10 | 6 |
Financial Performance
The Lion Electric Company's financial performance has shown remarkable growth. As of Q2 2023, the company reported total revenue of $185 million, up from $5 million in 2020. The company’s net loss decreased significantly, from $40 million in 2021 to $15 million in 2022, indicating improved operational efficiency.
| Year | Total Revenue ($ million) | Net Loss ($ million) |
|---|---|---|
| 2020 | 5 | 40 |
| 2021 | 25 | 30 |
| 2022 | 100 | 15 |
Future Outlook
Lion Electric anticipates continued growth in the electric vehicle market, projecting revenues to reach $500 million by 2025 based on current contracts and market trends. The expansion of its manufacturing facility in Illinois represents a strategic move to enhance production capacity.
Conclusion
The Lion Electric Company’s diverse revenue streams, bolstered by strategic partnerships, government incentives, and a growing focus on service and maintenance, position it well for future growth as the demand for electric transportation solutions continues to rise.
The Lion Electric Company (LEV) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support