Lion Electric, a player in the electric vehicle industry, has unveiled plans for a workforce reduction as part of its strategic efforts to streamline its cost structure and achieve profitability objectives. The impact of this move will be felt by employees in both the United States and Canada.
Approximately 10% of Lion’s total workforce, equivalent to 150 employees engaged in production overhead, manufacturing, product development, and administrative functions, will be affected by this staff reduction across both North American locations.
Despite the substantial reduction in its workforce, Lion Electric remains optimistic about the continuity of its production and development activities. Marc Bedard, CEO-Founder of Lion, expressed the difficulty of the decision, stating, “Although this was a very difficult decision and we are sad to part ways with valued employees, this initiative was the right thing to do for the business at this point in time.” Bedard further conveyed confidence in the remaining workforce, affirming their capability to sustain Lion’s leadership and growth.
The announcement marks a departure from Lion Electric’s previous trajectory of expansion in North America. Notably, the company recently secured a significant electric school bus order from the Canadian province of Alberta, and in July, Lion opened a new factory in Illinois following a substantial cash injection to support its expansion plans.