On Friday, Lion Electric Company, the publicly listed, Montreal-based manufacturer of all-electric Class 5 to Class 8 urban commercial vehicles, announced that it has picked Joliet, Illinois as the site for its new U.S. manufacturing facility. The factory will be the largest dedicated production site for zero-emission medium and heavy-duty vehicles in the U.S., as well as Lion’s biggest market footprint to date, giving it the ability to meet increasing demand for “Made in America” zero-emission vehicles. As part of its agreement with the State of Illinois, Lion has committed to an initial investment of at least $70 million over three years.
Construction on the 900,000 sq. ft facility is slated to begin in the second half of 2021, and is expected to add at least 745 clean energy direct jobs to the region of the next three years. The factory’s annual production capacity of up to 20,000 all-electric buses and trucks to help to scale its electric bus production as the U.S. moves to electrify a large portion of its school bus fleet, and as governments and operators across the country move to decarbonize freight and transportation fleets. According to a Lion statement on Friday, the first vehicles will roll off the Joliet production line in the second half of 2022.
“Lion is the leader in electric school buses and has always been dedicated to the U.S. market, and our commitment to be close to our customers is one of the core values we have as a company. This significant expansion into the U.S. market will not only allow us to drastically increase our overall manufacturing capacity of electric trucks and buses but to also better serve our customers, while adding critical clean manufacturing jobs that will form the backbone of the green economy,” said Marc Bedard, CEO and Founder of Lion. “I also want to acknowledge the crucial role that P33 and Intersect Illinois, civic groups committed to developing developing a long-term roadmap for the local tech industry, played in connecting Lion with the Chicago area’s business and civic community to help further commercial traction, as well as engagement with key workforce and supplier partners.”
“Lion’s historic investment to bring its largest production facility to Illinois represents not only a win for our communities, but a strong step forward in our work to expand clean energy alternatives and the jobs they bring to our communities,” said Illinois Gov. J.B. Pritzker. “The new Joliet facility will put Illinois at the forefront of a national movement to transition to zero-emission vehicle use, advancing our own goals of putting one million of these cars on the road by 2030. In Illinois, we know that a clean energy economy is about more than just vehicles – it’s about healthier communities and jobs for those who live there. We are excited to welcome Lion to the Land of Lincoln and look forward to their future success here.”
Lion says it plans to build a robust local supply chain within the manufacturing-rich Will County region.
Earlier this week, Lion Electric announced the completion of its merger with the North Genesis Acquisition Corporation, a NYSE-listed special purpose acquisition company, a transaction that netted proceeds of $490 million to Lion (post-transaction expenses). The funds will be used to repay outstanding debts and finance Lion’s future growth, not least the build-out of its U.S. manufacturing capacity.
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