EV Startups on a Rough Road: Lion Electric Becomes the Latest Casualty

Between 2020 and 2021, a wave of EV startups went public through Special Purpose Acquisition Companies (SPACs), attracting investors with bold promises of rapid production timelines and revolutionary technology. However, the harsh realities of high costs, operational challenges, and fierce competition have proven too much for many. Lion Electric (LEV) , a Quebec-based manufacturer of battery-electric trucks and buses, has become the latest casualty, underscoring the struggles plaguing the sector.Lion Electr ...