[ad_1]
JOLIET, Ill., April 28, 2022 /PRNewswire/ – Lion Electric Company (NYSE:LEV) (TSX:LEV) (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty vehicles, today announced that the company is preparing to assist customers in securing funding under the first $500 million tranche of the US Environmental Protection Agency (“EPA”)’s $5 billion Clean School Bus Program.
As part of the Infrastructure Investment and Jobs Act, the US Federal Government has dedicated $5 billion in funding to deploy zero-emission and clean school buses over the next five years, which will help to bring healthy commutes to students around the country, especially in underserved communities which have historically had disproportionately poor air quality. School districts will also benefit from the reduced energy and maintenance costs that all-electric school buses have to offer.
Details of the program were recently announced, and priority districts can receive up to $375,000 per bus in funding, which can represent up to 100% of an all-electric school bus price, while other eligible districts can receive up to $250,000 per bus, thus largely aligning the price of an electric bus to that of a conventional internal combustion engine vehicle. EnergyStar certified charging infrastructure is also eligible for funding, which LionEnergy can also help customers to secure and install. A list of priority districts will be released by the EPA in early May.
“As the leader in all-electric school buses, Lion is in a fantastic position to help customers secure this new EPA funding for both all-electric school buses as well as charging infrastructure, which in some cases will fund the entire purchase of a new zero-emission Lion school bus,” said Marc BedardCEO – Founder of Lion Electric. “Lion put its first electric school buses on the road in the US in 2016, which have since been driven in real world operating conditions. We are clearly an early mover in the space and, with our planned capacity of 20,000 vehicles per year at our Illinois manufacturing facility, are ideally positioned to put made in America electric school buses on the road at scale. This federal program is a major step in transitioning to sustainable school transportation, bringing significant improvements to the health of our children and communities. We applaud .. .
Full story available on Benzinga.com
[ad_2]
Source link
