The Lion Electric Company ( NYSE: LEV ) announced that its customers in Canada can now receive up to $150,000 in funding under Transport Canada's newly launched Incentives for Medium and Heavy-duty Zero-Emission Vehicles Program.
The Canadian Federal Government is providing nearly $550M in funding through the new program for the purchase or lease of medium and heavy-duty trucks over the next four years.
All models in Lion's current lineup of all-electric trucks are eligible to receive incentive funds under the iMHZEV Program. The funding amounts also apply to all available battery configurations and can be combined, or stacked with other available provincial, municipal, utility and other available incentives. By stacking both the federal and provincial incentives in Quebec, a Lion6 heavy-duty truck is eligible for subsidies of up to $243,750.
"It is both exciting and encouraging to see the Canadian Government embracing the deployment of zero-emission heavy-duty trucks and transit buses with the launch of the iMHZEV Program," said Lion Electric CEO Marc Bedard.
Shares of Lion Electric ( LEV ) moved up 1.58% premarket to $4.49 vs. the 52-week trading range of $4.08 to $15.97.
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Lion Electric vehicles qualify for government incentives in Canada