Reported 2 days ago
Lion Electric Co., a Quebec-based electric bus manufacturer, is temporarily laying off around 400 employees and halting operations at its Illinois factory after gaining temporary creditor relief. This comes following a missed deadline to meet obligations to key creditors, with new liquidity allowing the company to explore restructuring options, business sales, or strategic investments as it navigates a cash crunch exacerbated by supply chain issues and supplier disputes.
Source: YAHOO