Lion Electric’s new financing solution should help it expand its sales, providing more domestic metalworking opportunities for Canadian job shops working the emerging emobility market. PHOTO courtesy Lion Electric.
Montreal’s Lion Electric Company, a manufacturer of all-electric medium- and heavy-duty vehicles, has entered into an agreement to provide financing solutions to Lion school bus and truck customers in Canada and the United States through LionCapital Solutions’ vehicle financing program.
Domestic manufacturer Lion Electric presents obvious metalworking opportunities for Canadian job shops looking to tap into the emerging emobility market and Lion Electric’s new financing solution should help it expand its sales.
Lion’s financing agreement is with Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, and its related company, ENGS Commercial Finance Co,
” This agreement will allow LionCapital Solutions to leverage Mitsubishi’s vehicle financing expertise and capital to provide Lion customers with financing solutions specifically designed for Lion school buses and trucks, thereby making it easier and simpler for our clients to secure the financing required for the purchase of their Lion vehicles.” said William Blanchard, Head of LionCapital Solutions.
François Nantel, President of Mitsubishi HC Capital Canada added: “As the world searches for more sustainable solutions, the necessity of electric transportation is more obvious than ever. As an organization that provides financing solutions focused on the United Nations Sustainable Development Goals (SDGs), we firmly believe that electric transportation not only positively impacts our environment, but can ultimately improve our quality of life. That makes our partnership with Lion perfectly attuned.”
LionCapital Solutions’ turnkey financing solutions can provide for up to 100% of fleet electrification costs, including the initial cost of the vehicle, charging infrastructure and installation, and thus can potentially completely eliminate upfront capital requirements for fleets to transition to electric vehicles.