A court-appointed administrator said that the company will very likely be liquidated following the provincial government’s refusal to invest further public money into the company, which would have been a condition of any sale of the struggling company. Jean-François Nadon, a restructuring specialist with Deloitte, said “the likelihood of a liquidation of assets is very high”, and described the Quebec government’s decision as a ‘shock wave’ for Lion Electric.
The regional government has already invested heavily in the company, with Premier François Legault stating that the province could lose around $140 million CAD on the company. Legault has previously stated that Quebec may relax its targets for electric vehicles as the…
