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Lion Electric

EVCanada
💀 Dead / Bankrupt
Peak $4 BillionToday
~-98%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $4 Billion ’21
  3. 💔
    Became a Unitard
    Dec 2024
  4. 💸
    Last valuation
    ~$0
Current status
Bankruptcy protection (CCAA) Dec 2024

How it happened

Lion Electric was a Canadian maker of electric school buses and trucks, valued at ~$4B after going public via SPAC in 2021. Slower-than-expected EV adoption, production and cash-flow problems, and heavy losses overwhelmed the company. It sought creditor protection under the CCAA in December 2024, with its shares collapsing roughly 98% from peak.

Source: Wolf Street