Lion Electric Celebrates Official Opening of Largest All-electric U.s. Manufacturing Facility Dedicated to Medium and Heavy-duty Commercial Vehicle Production

JOLIET, Ill., July 21, 2023 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), today raised the bar on electric vehicle (EV) manufacturing with the official opening ceremony of its 900,000 square-foot Joliet, Illinois facility – the largest all-electric U.S. plant dedicated to medium and heavy-duty commercial vehicle production. Located about an hour from Chicago, the facility is expected to have a manufacturing capacity of 2,500 all-electric school buses at the end of 2023. At full scale, the plant has an estimated production capacity of 20,000 vehicles per year in a combination of both buses and trucks, which the Company estimates should require around 1,400 skilled workers.

Lion Electric chose Illinois for the state's resources, its central proximity to customers and the domestic supply base, and for its vision that aligns with the state's common goals for a more sustainable future. "We are at the forefront of a manufacturing rebirth in the United States, and together with Governor J.B. Pritzker and his team, industry stakeholders and EV advocates, we are creating the next era of transportation in the Midwest, with a critical need to reduce carbon emissions, strengthen the region's economic vitality, and support sustainability," said Marc Bédard, CEO-Founder of Lion Electric.

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Dignitaries, customers, media, financial analysts, partners, and team members attended this historic opening, which was celebrated with a daylong event that kicked-off with a press conference and inspiring diesel fuel hose (ribbon) cutting ceremony. U.S. and Illinois government officials that took part included: Terry D'Arcy, Mayor of Joliet; Illinois Governor J.B. Pritzker; U.S. Senator Richard (Dick) Durbin and U.S. Senator Tammy Duckworth. The event was also attended by nearly 150 students from the Boys & Girls Club of Chicago and Com Ed's Youth Ambassador Program, to learn about future job opportunities in the green economy. The students toured the factory, heard from Lion's technicians, assembly workers and staff about the electric vehicle industry and experienced riding in a zero-emission LionC school bus.

"Lion Electric has been a stalwart partner in building Illinois' nation-leading electric vehicle manufacturing industry—creating a sustainable network of good-paying jobs that support our communities, while also making our state cleaner and greener," said Governor JB Pritzker. "This new facility is a shining example of what smart investments and partnerships between the public and private sectors can create, and I congratulate Lion Electric and their partners on the official opening." 

"With the cutting-edge technology and innovative spirit of Lion Electric, we are driving the transformation of the transportation sector towards emission-free solutions," said U.S. Senator Dick Durbin (D-IL). "This facility will not only create job opportunities, but also strengthen America's position as a global leader in electric vehicle manufacturing. I commend Lion Electric for their commitment to decarbonizing the transportation sector and look forward to witnessing the positive impact this facility will have on our transportation landscape."

"Lion Electric is a good example of the future of manufacturing," said U.S. Senator Tammy Duckworth. "It's fitting they've chosen Illinois as their home for this manufacturing facility, because Illinois is where the future of manufacturing will happen. Supporting green manufacturing and green energy benefits us all in so many ways – we're creating jobs, saving money and developing a more sustainable, safer and healthier world not just for ourselves but for our kids and generations to come."

The official opening included guests touring Lion's new school bus production line, a truck and bus ride, and exploring innovative all-electric bodied-up Lion truck applications that were on display. Argonne National Laboratory and Joliet Junior College, which are partnering with Lion on research programs and workforce training and development, were also present at the celebration. Guests were also treated to an exclusive first look at the LionD, Lion Electric's Type-D school bus prototype that is expected to officially debut later in 2023.

"Today's event is monumental for Illinois as Lion Electric is the first company to make electric buses in the state," said Mark Denzler, president & CEO of the Illinois Manufacturers' Association. "Manufacturing is the single largest share of our economy and Lion will help grow a rich and historic legacy of manufacturing."

"ComEd is thrilled to power Lion Electric's first-ever US manufacturing plant, where new, locally built EVs will play a critical role in helping our customers move toward fewer emissions and cleaner futures," said Gil C. Quiniones, CEO of ComEd. "As a partner on their plans to grow in Joliet from day one, ComEd shares Lion's commitment to expanding access to electric transportation options that will help lower pollution, enhance air quality and stimulate new jobs and economic growth for the communities of
Illinois."

ABOUT LION ELECTRIC

Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs, and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit, and mass transit segments. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies. Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment, and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.