The Lion Electric Company (NYSE:LEV) Q1 2024 Results Earnings Conference Call May 8, 2024 8:30 AM ET
Company Participants
Isabelle Adjahi - Vice President, Investor Relations and Sustainable Development
Marc Bedard - Chief Executive Officer and Founder
Nicolas Brunet - President
Richard Coulombe - Chief Financial Officer
Conference Call Participants
Kevin Chiang - CIBC World Markets
George Gianarikas - Canaccord Genuity
Benoît Poirier - Desjardins Securities
Rupert Merer - National Bank of Canada
Daniel Lai - Barclays Capital
Michael Shlisky - D.A. Davidson & Co.
Christopher Souther - B. Riley Securities
Operator
Good morning, everyone. And welcome to Lion Electric's First Quarter 2024 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, Mr. Adjahi.
Isabelle Adjahi
Good morning, everyone. Welcome to Lion's first quarter 2024 results conference call.
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Today, I'm here with Marc Bedard, our CEO, Founder; Nicolas Brunet, our President; and Richard Coulombe, our Chief Financial Officer.
Please note that our discussion may include estimates and other forward-looking information and that our actual results could differ materially from those implied in any such statements. We invite you to review the cautionary language in this morning's press release and in our MD&A, which contains important information regarding various factors, assumptions and risks that could impact our actual results.
With that, let me turn it over to Marc to begin. Marc?
Marc Bedard
Good morning, everyone. Thank you for joining us today to discuss Lion Electric's performance for the first quarter of 2024.
Q1 was marked by significant commercial and operational achievements we have been able to accomplish despite important challenges, mostly related to the timing of some subsidy programs.
Let me start by aligning some of our achievements in Q1. The Canadian ZETF Fund approved the first sizable application for 200 buses, for which we have delivered 50 buses in Q1. We started delivering our Lion5 trucks equipped with our Lion MD battery packs, and we anticipate a gradual increase in Lion5 production throughout the rest of the year as we fulfill orders and bolster our market presence.
We started the deliveries of our LionD school buses manufactured at our Joliet facility. We are planning the commercialization of our LionA tractor truck this summer, and we will make its formal commercial introduction at the ACT Conference in Las Vegas in two weeks. Our LionA tractor will be equipped with our Lion battery HD pack, a state-of-the-art 105 kWh pack.