The Lion Electric Company (NYSE:LEV) Q1 2022 Earnings Conference Call May 4, 2022 8:00 AM ET
Company Participants
Isabelle Adjahi - VP, IR and Sustainable Development
Marc Bedard - CEO and Founder
Nicolas Brunet - EVP and CFO
Conference Call Participants
Benoit Poirier - Desjardins Capital Markets
Jed Dorsheimer - Canaccord Genuity
Brian Johnson - Barclays
Rupert Merer - National Bank
Mark Neville - Scotiabank
Michael Glen - Raymond James
Jonathan Lamers - BMO Capital Markets
Nauman Satti - Laurentian Bank
Operator
Hello everyone. Good morning and welcome to Lion Electric First Quarter 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 of Vice President, Investor Relations and Sustainable Development. Please go ahead, Ms. Adjahi.
Isabelle Adjahi
Good morning, everyone. Welcome to Lion’s first quarter 2022 results conference call. [Foreign Language] Today, I am 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, which our actual results could differ from in the future. We invite you to review the cautionary language in yesterday’s earnings release and in our MD&A regarding the various factors, assumptions and risks that could cause our actual results to differ.
With that, let me turn it over to Marc to begin. Marc?
Marc Bedard
Thank you, Isabelle and good morning everyone. In a few days on May 07, it will be exactly one year since we became a public company. From our first day of trading on the New York and Toronto stock exchanges, each one of us at Lion has brought their very best foot forward to deliver on our growth strategy, which resulted in our Q1 '22 performance.
Today, I am pleased to report that first, despite the challenging supply chain environment, we continued to see significant improvements, which translated into an accelerated pace of vehicle deliveries and resulted in us achieving a record number of quarterly vehicle deliveries. We expect continued gradual improvements in vehicle deliveries over the coming quarters.
Second, we are accelerating CapEx investments and remain on track to start manufacturing US build vehicles and Lion batteries in the second half of this year. And third, the movement towards transport electrification continues to gain strong momentum as demonstrated by unprecedented government funding packages announced in the US and Canada, including the announcement last week of the first $500 million in funding under the EPA's $5 billion clean school bus program. Lion is uniquely positioned to benefit from these funding packages.