Lion Electric Company ( NYSE: LEV ) announced that the company has produced its first zero-emission LionC school bus out of the company's U.S. factory located in Joliet, Illinois.
The vehicle manufacturer highlighted that it went from an empty shell of a building in Joliet to manufacturing its first made in America zero-emission school bus in roughly 18 months.
Looking ahead, Lion Electric ( LEV ) said it will now be entering the ramp-up phase of production, with an initial focus on the all-electric LionC school bus.
"We will spare no effort in the gradual scale-up of manufacturing, which we anticipate will be spread out over the next few quarters."
The production of the first LionC is noted to occur at a time when the market demand for all-electric school buses is gaining momentum, accelerated by the U.S. Environmental Protection Agency's Clean School Bus Program, under which the EPA awarded funding for over 2,200 all-electric buses to school districts nationwide in October.
Shares of Lion Electric ( LEV ) shot up 7.05% to $3.20 in premarket trading on Wednesday vs. the 52-week trading range of $2.37 to $14.40.
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Lion Electric rallies after announces the production of its first U.S. zero-emission school bus