Lion Electric Puts the Brakes on Workforce as CCAA Drives Change
In a major move, Montreal-based electric bus and truck manufacturer Lion Electric has announced temporary layoffs affecting roughly 150 employees in Canada and the U.S. amidst ongoing Companies' Creditors Arrangement Act (CCAA) proceedings. This marks the company's fifth layoff round in 2024, summing up to about 1070 displaced employees. With only 160 workers focusing on the maintenance of existing client vehicles, Lion Electric is bracing for a strategic realignment. This evolving narrative highlights significant challenges not just for Lion Electric, but for the broader EV market struggling to balance growth with economic realities.
Jan 6