Lion Electric reports US$21.7M Q1 loss compared with US$15.6M loss a year earlier

The maker of all-electric medium and heavy-duty vehicles, which keeps its books in U.S. dollars, says the loss amounted to 10 cents per diluted share for the quarter ended March 31 compared with a loss of seven cents per share a year earlier.

Revenue for the quarter totalled US$55.5 million, up from US$54.7 million in the first quarter of 2023. Lion says the increase in revenue was helped by a higher proportion of U.S. vehicle sales which resulted in a more favourable product mix, offset in part by a drop in sales volumes. The company says it delivered 196 vehicles for the quarter, down from 220 delivered in the same quarter last year.

The Montreal-based company announced last month that it was cutting about 120 jobs. The move followed the elimination of more than 100 jobs at the company in February and 150 positions in November last year.The Canadian Press

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Electric vehicle maker Lion Electric cuts about 120 jobs as it looks to reduce costsMONTREAL — The Lion Electric Co. says it's cutting about 120 jobs as part of a plan to reduce costs. The Montreal-based maker of electric trucks and buses...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

The Daily Chase: Budget fallout continues, Lion Electric cutting jobs againHere are five things you need to know this morning.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

EV maker Lion Electric cuts about 120 jobs as it looks to reduce costsThe Lion Electric Co. says it's cutting about 120 jobs as part of a plan to reduce costs.
Source: BNNBloomberg - 🏆 83. / 50 Read more »