A Group of Canadian Investors Rallies to Relaunch LION
The transaction marks the beginning of a new approach focused on the local market and a product line dedicated exclusively to electric school buses.
MONTREAL, May 23, 2025 /CNW/ - A group of seasoned investor-entrepreneurs has officially acquired the company LION, formerly known as "Lion Electric". This announcement follows the approval of the transaction by the Superior Court of Quebec. The acquisition keeps the company rooted locally and prevents the takeover of a strategic industrial asset by foreign interests.
The new owners plan to streamline operations by focusing exclusively on electric school buses, fully assembled locally and intended for the Quebec market. This will allow LION to resume production, continue supporting its hundreds of clients, and ensure maintenance of the approximately 1,000 electric school buses currently operating in the province.
All warranties offered to customers on these vehicles will be honoured. Maintenance services and the supply of parts will gradually resume, taking into account a transition period required to relaunch operations.
"We are proud to have mobilized a group of such experienced businessmen to relaunch LION and to contribute to the energy transition. Our ambition is clear: ensure the company's long-term revival through a realistic business vision focused on product quality, operational efficiency, and proximity to our clients. While acknowledging past challenges, we must look ahead. That is exactly what this transaction represents," said Luc Sabbatini, LION shareholder.
The new ownership structure brings together investor-entrepreneurs Pierre Wilkie, Luc Sabbatini, Éric D'Anjou, Claude Boivin, Martin Barbeau, Pierre Bolduc, and Michael Zakuta, as well as Mach Capital (Vincent Chiara). These seasoned partners have worked in key sectors of the Quebec economy, ranging from the pharmaceutical industry, real estate, energy, media, and urban mobility to the outdoor industry and technology. They have founded, led, and scaled companies of both local and international significance, driving growth, innovation, and major investments. Their backgrounds reflect their leadership in both established markets and rapidly evolving industries. Together, they share a common vision for LION's pragmatic, locally anchored revival, built on solid foundations.
Keeping the company local—an essential link in transportation electrification and energy transition—safeguards not only direct jobs, but also a broad network of suppliers and industrial partners who play a key role in economic development.
To our employees
We sincerely thank our employees for their resilience and patience. Their professionalism and commitment to excellence have been essential in navigating this turbulent period, and they will remain at the heart of LION's revival. We are proud to count on them to help relaunch this industry flagship.
To media and journalists
Our immediate priority is to restore operations, relaunch essential services for our clients, and mobilize our teams. LION does not plan to grant media interviews or provide additional public comments for the time being. We will share updates at the appropriate moment.
About LION
LION designs, manufactures, and distributes electric school buses, 100% assembled in Quebec. Its integrated approach and personalized technical support make it a trusted partner for school transportation operators. The company provides comprehensive support—from fleet electrification to infrastructure installation—helping clients streamline their energy transition and focus on their core mission: ensuring safe student transportation. Firmly future-oriented, LION is committed to advancing transportation electrification and actively contributes to decarbonizing the economy for a more sustainable future.
SOURCE LION