Lion Electric to offer financing solutions for e-trucks
Lion Electric has just announced the launch of LionCapital Solutions. The new division offers flexible financing solutions for customers that are specifically tailored to the medium and heavy-duty electric vehicle market.
LionCapital Solutions says it will commercialise a financing offer that can be deployed at scale. The offering is specifically designed for Lion school buses, Lion trucks and related charging infrastructure, including loans, leasing and monetisation of carbon credits.
The new division says it will work with the Lion Electric commercial, operations and finance teams to integrate financing solutions into the company’s turnkey fleet electrification package. The new division promises to maximise customers’ access to funding and either completely eradicate or at least greatly minimize upfront capital requirements. The division promises to simplify the financing process that it says enables customers to benefit from “a favourable cost of ownership from day one. ”
Lion Electric became famous for its electric school buses but easily slipped into the market for electric trucks and other commercial vehicles. The Canadian EV manufacturer joins other large vehicle manufacturers with finance solutions for fleet owners. Just last month, fellow North American heavy-duty zero-emission vehicle manufacturer Nikola Motor forged a deal with Corcentric on leasing deals for truck purchases.
Lion Electric has already been scoring some enormous orders from big customers, who are not likely to have any trouble with upfront costs of electrification. In early 2021, it became clear from a long stock exchange notice that Amazon aims to procure up to 2,500 all-electric Lion 6 and Lion 8 trucks from Lion Electric by 2025. The framework agreement already concluded with Amazon in July 2020. In the meantime, Lion Electric has scored multiple electric school bus orders from all over North America.
Now, with the new financing division, fleet orders for Lion Electric vehicles should also be possible from smaller, less cash-heavy companies wanting to electrify their fleets.
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