The Lion Electric Company, a leading manufacturer of all-electric medium- and heavy-duty vehicles, has announced a partnership with Mitsubishi HC Capital Canada and ENGS Commercial Finance Co. to provide financing solutions to Lion school bus and electric truck customers in the United States and Canada through LionCapital Solutions’ vehicle financing program.
Lion Electric is an innovative manufacturer of zero-emission vehicles, creating, designing, and manufacturing all-electric commercial urban trucks and buses for various segments, including school, paratransit, and mass transit. Lion is a North American company which designs, builds, and assembles many of its vehicles’ components, including chassis, battery packs, truck cabs, and bus bodies.
The partnership with Mitsubishi HC Capital Canada and ENGS Commercial Finance will allow LionCapital Solutions to leverage Mitsubishi’s vehicle financing expertise and capital to provide Lion customers with financing solutions specifically designed for Lion school buses and electric trucks, making it easier and simpler for clients to secure financing for their Lion vehicles. The financing solutions can provide for up to 100% of fleet electrification costs, including the initial cost of the vehicle, charging infrastructure, and installation, potentially eliminating upfront capital requirements for fleets to transition to electric vehicles.
According to William Blanchard, Head of LionCapital Solutions, “I am very pleased to announce this partnership with Mitsubishi HC Capital Canada and ENGS Commercial Finance, and to have financial partners who share Lion’s sustainable transportation vision and values.”
Craig Weinewuth, CEO & President ENGS Commercial Finance said, “As an established market leader in the transportation sector, we are proud to work alongside and support Lion as advancements continue to be made in the ever-important electric transportation segment. Joining together to offer Lion customers innovative financing options further demonstrates our pledge to supporting electrification and this next phase of mobility solutions.”
François Nantel, President of Mitsubishi HC Capital Canada, added, “As the world searches for more sustainable solutions, the necessity of electric transportation is more obvious than ever. That makes our partnership with Lion perfectly attuned.”