The Lion Electric Company (NYSE:LEV) Q4 2022 Earnings Conference Call March 10, 2023 8:30 AM ET
Company Participants
Isabelle Adjahi - VP, IR and Sustainable Development
Marc Bedard - CEO and Founder
Nicolas Brunet - EVP and CFO
Conference Call Participants
Michael Shlisky - D.A. Davidson
Benoit Poirier - Desjardins Securities
Christopher Souther - B. Riley Securities
George Gianarikas - Canaccord Genuity
Kevin Chiang - CIBC Capital Markets
Dan Levy - Barclays
Rupert Merer - National Bank Financial
Michael Glen - Raymond James
Abhishek Sinha - Northland Capital Markets
Craig Irwin - ROTH Capital
Operator
Good morning, ladies and gentlemen. Welcome to Lion Electric’s Fourth Quarter and Fiscal 2022 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference call is being recorded. I would now like to turn the call over to Isabelle Adjahi, Vice President, Investor Relations and Sustainable Development. Please go ahead.
Isabelle Adjahi
Good morning, everyone. Welcome to Lion's fourth quarter and fiscal 2022 results conference call. [Foreign Language]. Today, I'm here with Marc Bedard, our CEO, Founder; and Nicolas Brunet, our EVP and CFO. Please note that our discussion will include estimates and other forward-looking information and that our actual results could differ materially from those implied in the statements. We invite you to review the cautionary language in this morning's press release and in our MD&A regarding the various factors, assumptions, and risks that could cause our actual results to differ materially from those implied in such forward-looking statements. With that, let me turn it over to Marc to begin. Marc?
Marc Bedard
Thank you, Isabelle. Good morning, everyone. At the beginning of last year, as we were discussing our strategic objectives for 2022 we highlighted the following specific areas of focus that guide our work and investments. Ramping up production at our Montreal plant, building and starting production at our Joliet plant, and our battery factory and accelerating vehicle and charging infrastructure deliveries. I'm glad to report we delivered on our plan for each of these items while maintaining our commanding leadership in the electric school bus space.
There are three main elements we will be talking about today. Number one, we continued to increase our vehicle production cadence in Q4, which translated into growing vehicle deliveries and growing revenue, and we expect this trend to continue in 2023. Number two, we achieved significant milestones in our two growth projects as we assembled our first electric school bus unit at our U.S. manufacturing plant and our first battery pack in our battery factory. And number three, while in 2023 we will continue to invest in our two new manufacturing factories to ramp up production capacity, we will also continue to smartly align capital spend with expected near term demand for our vehicles, and to carefully manage our liquidities. We will provide color on each of these items before we open the line for questions.