Lion Electric has received a purchase order from Pride Group Enterprises for the acquisition of 100 all-electric Lion6 and Lion8 trucks. The Canadian company says this order represents Lion’s largest single order of zero-emission trucks to date.
Lion Electric has just received this purchase order from Pride Group Enterprises (Pride) for the acquisition of 100 all-electric Lion6 and Lion8 trucks. While Lion Electric says this is their single largest order to date, the Canadian company also has a massive and semi-secret deal with Amazon that only coincidently came to light last year, but more about that later.
Pride Group Enterprises is the parent company for Pride Truck Sales, TPine Leasing Capital, TPine Truck Rental, Pride Group Logistics and Pride Fleet Solutions, and will be integrating the all-electric trucks into its existing logistics, full maintenance, leasing, rental and equipment retail operations throughout the US and Canada. The Lion Electric trucks will also be deployed by Pride with a selection of its fleet management clients. Most of the electric trucks should be delivered to Pride during 2021, with the remainder of deliveries expected to take place in 2022.
Lion Electric – previously best known for its electric school buses – unveiled the Lion8 in spring 2018. It is a US Class 8 e-truck, which is equivalent to local trucks over 15 tons. The 350 kW Lion8 offers up to 480 kWh of battery capacity for up to 400 km of range, using NMC cells from LG Chem. The Lion6 is analogous to a US Class 6 vehicle over 8.84 tons. Not much is known about this vehicle yet.
Now back to the claim that this order for 100 electric trucks is Lion Electric’s largest order to date. In January this year, it became clear that Amazon plans to procure up to 2,500 all-electric Lion 6 and Lion 8 trucks from Canadian manufacturer by 2025. The framework agreement already concluded with Amazon in July 2020 was revealed hidden in a long stock exchange notice.
The deal with Amazon, which has been in place since the summer, in hindsight now explains the large order Lion Electric placed with Romeo Power in November 2020. The Canadian company ordered battery modules and packs for Class 6 to 8 vehicles worth $234 million for a five-year period starting 2021. The deal with Amazon may also explain the confidence with which the Canadian company is pursuing an IPO, as announced in December just passed.
For the Quebéc-based Lion Electric, the revealed deal with Amazon is clearly running on a much larger scale than previously revealed. Now, the electric truck and bus maker has another large order with Prides procurement contract for 100 buses, which is indeed larger than their latest and largest (publically announced) order for e-trucks to date when Canada’s rail service requested 50 battery-electric trucks in September 2020. This latest order from Pride also has the whiff of the beginning of bigger things to come given Pride’s profile with the truck business in North America.
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