A consortium of seasoned Quebec investor-entrepreneurs has officially acquired LION, formerly known as Lion Electric, marking a pivotal moment in the company’s future and in Quebec’s transportation electrification efforts. The transaction, approved by the Superior Court of Quebec, ensures the company remains under local ownership and out of foreign control, preserving a strategic industrial asset for the province.
The new ownership group—comprising prominent business leaders including Pierre Wilkie, Luc Sabbatini, Éric D’Anjou, Claude Boivin, Martin Barbeau, Pierre Bolduc, Michael Zakuta, and Mach Capital’s Vincent Chiara—plans to streamline LION’s operations by focusing exclusively on the production of electric school buses for the Quebec market.
Production to Resume with Local Commitment
The revived LION will resume manufacturing operations, providing support and service for its fleet of approximately 1,000 electric school buses already operating in the province. The company affirmed that all existing customer warranties will be honored, and that maintenance and parts supply services will progressively restart during a transitional relaunch phase.
“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,” said Luc Sabbatini, a shareholder in the restructured LION. “While acknowledging past challenges, we must look ahead. That is exactly what this transaction represents.”
A Strategic Local Asset Secured
This acquisition secures jobs and protects a vital link in Quebec’s electric vehicle ecosystem. It also safeguards a wider network of local suppliers and industrial partners who play a crucial role in the province’s economic development and energy transition efforts.
With backgrounds spanning pharmaceuticals, real estate, energy, media, urban mobility, outdoor goods, and technology, the new leadership team brings a wealth of expertise and a shared vision for reviving LION as a symbol of innovation and resilience in Quebec’s industrial landscape.
