LION ELECTRIC PUBLISHES FIRST ANNUAL ESG REPORT
MONTREAL, May 6, 2022 /CNW Telbec/ – The Lion Electric Company (NYSE: LEV) (TSX: LEV) (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today Today at its annual general meeting of shareholders, it published its first annual report on the environment, social and governance (“ESG”), a document which provides an overview of the Company’s priorities, as that it is advancing the management of its ESG risks and opportunities.
“At Lion, we believe in a healthier, more resilient future for all, and we have a long history of creating reliable, climate-friendly electric vehicles for the well-being of our citizens and the communities in which we live. We pride ourselves on being an agent of change, bringing solutions to our customers on their journey to reducing GHG emissions,” said Marc Bedard, CEO and founder of Lion Electric. “As we seek to achieve long-term sustainable growth, having this inaugural report formalizes and allows us to share these core beliefs with our stakeholders. It is an important first step in formulating our our approach to a sustainable business, in particular through an ESG We invite you to view our report to learn more about our plans to pave the way to decarbonizing transport and a sustainable future,” he added. .
During the year, significant progress was made on ESG topics, as we have, among others:
- Establishment of formal monitoring of ESG practices and publication of our first ESG policy
- Calculated our scope 1 and 2 GHG emissions, 2020 and 2021
- Helped our customers avoid 10,862 tCO2GHG emissions
- Investigate potential long-term plans for the life cycle of our batteries
- Conducting a survey on employee experience and employment equity
- Unveiled our Diversity, Equity and Inclusion Policy
- Commitment to at least 30% female representation on the board of directors at Lion’s next annual meeting of shareholders to be held in 2023
- Committed to at least one minority director by our next annual meeting of shareholders in 2023
- Launching a Whistleblower line
To read the full report, click here
This report contains the information recommended in the Industrial Machinery & Goods and Automobiles standards developed by the Sustainability Accounting Standards Board (“SASB”) and the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”).
ABOUT ELECTRIC LION
Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to 8 urban commercial trucks as well as all-electric buses and minibuses for the school, adapted and collective segments. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicle components, including chassis, batteries, truck cabs and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique characteristics specifically adapted to its users and their daily needs. Lion believes that the transition to all-electric vehicles will lead to major improvements in our society, our environment and our overall quality of life. Lion’s shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements in this press release that are not statements of historical fact, including statements about Lion’s beliefs and expectations, are forward-looking statements and should be evaluated as such.
Forward-looking statements can be identified by the use of words such as “believe”, “may”, “will”, “continue”, “anticipate”, “intend”, “expect”, ” should”, “should”, “might”, “plan”, “project”, “potential”, “seem”, “seek”, “future”, “target” or other similar expressions and any other statement that predicts or indicate future events or trends or are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include statements regarding the Company’s backlog and the Company’s ability to convert it into actual sales, the Company’s long-term strategy and future growth, the proposed battery plant and innovation of the Company Quebec and its manufacturing plant in the United States, and the planned launch of new models of electric vehicles. These forward-looking statements are based on a number of estimates and assumptions that Lion believes are reasonable when made, including that Lion will be able to retain and hire key personnel and maintain customer relationships. , suppliers and other business partners, that Lion will continue to operate its business in the normal course, that Lion will be able to implement its growth strategy, that Lion will be able to successfully and on schedule complete the construction of its manufacturing plant in the United States and its Quebec battery plant and innovation center, that Lion will no longer experience supply chain issues or material disruption in sourcing raw materials on competitive terms, that Lion will be able to maintain its competitive position , that Lion will continue to improve its internal financial and other operations, controls and systems to manage its growth and size, that its results of operations and financial condition will not be adversely affected, that Lion may benefit, directly or indirectly ( including through its customers), government grants and economic incentives in the future and that Lion will be able to obtain additional financing through equity or debt financing on terms acceptable to Lion when required in the future. These estimates and assumptions are made by Lion in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate and reasonable under the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Lion believes that these risks and uncertainties include the following: any adverse changes in general economic, business, commercial, financial, political or legal conditions in the United States or Canada, including as a result of the global COVID-19 pandemic -19 and the emergence of variants of COVID-19, as well as variable vaccination rates between different countries; any adverse effects of Russia–Ukraine war, which is increasingly affecting global economic and financial markets and exacerbating current economic challenges, including issues such as rising inflation and global supply chain disruption; any inability to successfully and economically manufacture and distribute its vehicles on a large scale and meet the business needs of its customers; any failure to expedite production of Lion’s products and meet project and other project construction deadlines; any failure to reduce the total cost of ownership of electric vehicles sold by Lion over time; dependence on key management and any inability to attract and/or retain key personnel; any inability to execute the Company’s growth strategy; any adverse fluctuations and volatility in the price and availability of raw materials included in key components used to manufacture Lion’s products; dependence on key suppliers and any inability to maintain an uninterrupted supply of raw materials; labor shortages which may take the form of employee turnover, departures and demands for higher salaries which require the Company to operate at reduced capacity, lower production and deliveries, plans for delayed growth and could pose additional challenges related to employee compensation; any inability of Lion to meet user expectations related to, or other difficulties in providing, charging solutions to its customers; any inability to maintain the Company’s competitive position; any inability to reduce its supply costs over time; any failure to maintain and improve the Company’s reputation and brand; any major product repair and/or replacement due to warranty claims or product recalls; any computer systems failures or cybersecurity and data privacy breaches or incidents; any event or circumstance resulting in the Company’s inability to convert its order backlog into actual sales, including the reduction, elimination or discriminatory application of government subsidies and economic incentives or the reduction in the need for such subsidies ; any inability to obtain adequate insurance coverage or a potential increase in insurance costs; natural disasters, epidemics or pandemics, boycotts and geopolitical events such as civil unrest and acts of terrorism, the current military conflict between Russia and Ukraine or similar disturbances; and the outcome of any legal proceedings that may be brought against the Company from time to time.
SOURCE Electric Lion
For more information: MEDIA; Patrick Gervais, Vice-President Marketing and Communications, [email protected]INVESTORS, Isabelle Adjahi, Vice-President Investor Relations and Sustainable Development, [email protected]450 432-5466, ext. 171