Lion Électrique lays off 10% of its workforce

Electric bus and truck maker Lion Électrique announced Monday the layoffs of 150 employees, representing about 10% of the Quebec company’s total workforce.

• Also read: There are clouds on the horizon for the battery industry

In a press release, Lion Électrique explained that it made this decision “to reduce its cost structure and improve its ability to achieve its profitability objectives.”

These workforce reductions affect 150 employees, primarily in production support, manufacturing, product development and administration in Canada and the United States.

“Although this decision was very difficult for us and we are disappointed to part ways with employees we value, this initiative makes the most sense for the company at this time,” said Marc Bédard, chief executive and founder of Lion, in a statement Press release.