JOLIET,
Ill., Sept. 5, 2024 /PRNewswire/ - The Lion
Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"),
a leading manufacturer of all-electric medium and heavy-duty urban
vehicles, announces that its all-electric school buses are now
eligible for Dominion Energy's Electric School Bus Infrastructure
program in Virginia.
Dominion Energy, the main electricity provider in Virginia, is supporting public school
districts within its Virginia
service territory by providing fast-charging solutions to districts
that receive Environmental Protection Agency ("EPA") Clean School
Bus funding. As part of this program, Dominion Energy facilitates
the coordination of utilities, network upgrades, construction, and
installation of charging infrastructure for beneficiary school
districts. Additionally, this initiative enables electric school
buses to serve as a grid resource. With vehicle-to-grid ("V2G")
technology, electric school buses can be utilized as additional
energy storage and discharge energy on to the grid during periods
of high demand when the buses are not needed for transport.
"Dominion Energy's Electric School Bus Infrastructure program
represents a unique opportunity for school districts across
Virginia to accelerate the
electrification of their school bus fleets. With its offering of
purpose-built, vehicle-to-grid enabled electric school buses, Lion
is ideally positioned to serve school districts in Virginia," said Marc-Andre Page, Chief Customer Officer at Lion
Electric. "With over 15 years of dedication to the development and
deployment of all-electric school buses, Lion is leading the
industry with all-encompassing electric solutions that benefit
children and communities across America."
"Dominion Energy is committed to helping Virginia remain a leader in clean pupil
transportation," said Courtney
Young, Director of Electrification at Dominion Energy. "We
are proud to support public school districts in their transition to
electrification, with key partners like Lion Electric, and bring
the benefits of electric transportation to the customers and
communities we serve."
Dominion Energy's Electric School Bus Infrastructure program is
a great complement to the EPA's Clean School Bus Program, for which
$5 billion in funding is expected to
be deployed over five years to accelerate the adoption of electric
school buses across the United
States.
School districts interested in acquiring an all-electric school
bus can also benefit from the Lion Customer Success team, who are
experts in supporting the transition to zero emissions and
maximizing operational success. Support includes charging
infrastructure through LionEnergy, financing assistance via
LionCapital Solutions, funding support services from the LionGrants
team, driver, maintenance, and safety training by Lion's
BrightSquad, and proprietary EV telematics with LionBeat.
School districts and fleet customers ready to start their
electrification journey are invited to contact Lion Electric at
marketing.lion@thelionelectric.com.
To learn more about the Dominion Energy's Electric School Bus
Infrastructure program in Virginia: Electric School Buses | Virginia | Dominion Energy
ABOUT LION ELECTRIC
Lion Electric is an innovative manufacturer of zero-emission
vehicles. The company creates, designs and manufactures
all-electric class 5 to class 8 commercial urban trucks and
all-electric school buses. Lion is a North American leader in
electric transportation and designs, builds and assembles many of
its vehicles' components, including chassis, battery packs, truck
cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion
vehicles have unique features that are specifically adapted to its
users and their everyday needs. Lion believes that transitioning to
all-electric vehicles will lead to major improvements in our
society, environment and overall quality of life. Lion shares are
traded on the New York Stock Exchange and the Toronto Stock
Exchange under the symbol LEV.
ABOUT DOMINION ENERGY
More than 4.5 million customers in 13 states energize their
homes and businesses with electricity or natural gas from Dominion
Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to
providing reliable, affordable, and increasingly clean energy every
day and to achieving Net Zero emissions by 2050. Please visit
DominionEnergy.com to learn more.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws and within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements"), including statements about Lion's
beliefs and expectations and other statements that are not
statements of historical facts. Forward-looking statements may be
identified by the use of words such as "believe," "may," "will,"
"continue," "anticipate," "intend," "expect," "should," "would,"
"could," "plan," "project," "potential," "seem," "seek," "future,"
"target" or other similar expressions and any other statements that
predict or indicate future events or trends or that are not
statements of historical matters, although not all forward-looking
statements may contain such identifying words. The forward-looking
statements contained in this press release are based on a number of
estimates and assumptions that Lion believes are reasonable when
made. Such estimates and assumptions are made by Lion in light of
the experience of management and their perception of historical
trends, current conditions and expected future developments, as
well as other factors believed to be appropriate and reasonable in
the circumstances. However, there can be no assurance that such
estimates and assumptions will prove to be correct. By their
nature, forward-looking statements involve risks and uncertainties
because they relate to events and depend on circumstances that may
or may not occur in the future. For additional information on
estimates, assumptions, risks and uncertainties underlying certain
of the forward-looking statements made in this press release,
please consult section 23.0 entitled "Risk Factors" of the
Company's annual management's discussion and analysis of financial
condition and results of operations (MD&A) for the fiscal year
2023 and in other documents filed with the applicable Canadian
regulatory securities authorities and the Securities and Exchange
Commission, including the Company's interim MD&As. Many of
these risks are beyond Lion's management's ability to control or
predict. All forward-looking statements attributable to Lion or
persons acting on its behalf are expressly qualified in their
entirety by the cautionary statements contained and risk factors
identified in the Company's annual MD&A for the fiscal year
2023 and in other documents filed with the applicable Canadian
regulatory securities authorities and the Securities and Exchange
Commission. Because of these risks, uncertainties and assumptions,
readers should not place undue reliance on these forward-looking
statements. Furthermore, forward-looking statements speak only as
of the date they are made. Except as required under applicable
securities laws, Lion undertakes no obligation, and expressly
disclaims any duty, to update, revise or review any forward-looking
information, whether as a result of new information, future events
or otherwise.
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SOURCE The Lion Electric Co.
