Lion Electric has received financial support from Mitsubishi HC Capital Canada for its LionCapital Solutions financing division, which provides financing solutions for Lion electric school buses and trucks in the US and Canada.
LionCapital Solutions was launched in February last year, offering complete solutions for electric vehicles, including the necessary infrastructure and financing options.
With Mitsubishi HC Capital America and ENGS Commercial Finance Co joining the program, Lion Electric can provide up to 100% of the cost of fleet electrification, which may eliminate the upfront capital requirements for fleets transitioning to electric vehicles.
“This agreement will allow LionCapital Solutions to leverage Mitsubishi’s vehicle financing expertise and capital to provide Lion customers with financing solutions,” said William Blanchard, Head of LionCapital Solutions.
“As an organisation that provides financing solutions focused on the United Nations Sustainable Development Goals (SDGs), we firmly believe that electric transportation not only positively impacts our environment, but can ultimately improve our quality of life. That makes our partnership with Lion perfectly attuned,” added François Nantel, President of Mitsubishi HC Capital Canada.
See also: Lion Electric Completes First Lithium-Ion Battery Pack Production in Mirabel Facility
The company operates a new plant in Illinois, USA, which opened in late 2022, in addition to its operations in Canada. Lion Electric has secured numerous electric school bus orders from all over North America and is set to deliver up to 2,500 Lion EVs to Amazon by 2025. Governments in both Canada and the US have launched funding programs to promote the electrification of school buses across the continent.
