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

MONTREAL — The Lion Electric Co. says it lost US$21.7 million in its latest quarter compared with a loss of US$15.6 million in the same quarter last year as it faced higher manufacturing costs related to the ramp up of new products.

Revenue for the quarter totalled US$55.5 million, up from US$54.7 million in the first quarter of 2023. 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.In this article, we discuss the 10 companies to consider in the portfolio of Kevin O’Leary for 2024.

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