Lion Electric reports US$21.7-million first-quarter loss as company faces higher manufacturing costs

📆 08/05/2024 14:52:00
📰 globeandmail

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The maker of all-electric medium and heavy-duty vehicles, which keeps its books in U.S. dollars, says the loss amounted to 10 cents per diluted share for the quarter ended March 31

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.

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