Quebec judge approves sale of Lion Electric
Justice Michel Pinsonnault says the deal is the only option that ensures the struggling manufacturer can keep operating.
The consortium of investors is led by Pierre Wilkie, a director of the electric-vehicle company, and Montreal real estate entrepreneur Vincent Chiara.
Lion Electric will preserve its manufacturing plant in Saint-Jérôme, Que., where it made electric school buses and trucks, but hundreds of employees will be permanently laid off.
The investors made a revised offer after the Quebec government announced last month it would not invest any more public money in the company.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
22 minutes ago
- CBC
B.C.'s craft brewers pitch tax reforms to help already shrinking industry
Craft brewers in British Columbia are rallying behind a campaign demanding changes to how beer producers are taxed. Called "Protect BC Craft Beer," the 219-member B.C. Craft Brewers Guild (BCCBG) is pitching reforms to the provincial tax regime that will, in its words, "stop favouring foreign-owned beer conglomerates" while reducing the tax burden on small, local producers. The executive director of BCCBG says the change is needed to stop the shrinking industry of craft brewing from contracting even faster. "Without change, many of our members won't make it, some have already closed their doors," said Ken Beattie. "This reform isn't just about fairness; it's about survival." Beattie said this year alone, more than 20 craft breweries in the province have been forced to close their doors. BCCBG says that under the province's tax structure, large foreign-owned beer conglomerates have received more than $9 million in tax rebates annually under a regime that hasn't been updated in almost 10 years. It says large beer companies that produce above a certain volume pay a flat tax rate, where as small craft brewers "get penalized for success" with a tax rate that goes up as production increases. The guild says its proposal is revenue neutral for government and could lead to savings of over $16 million dollars for B.C. craft breweries, money which could in turn go into local jobs and dealing with U.S. tariffs. CBC reached out the province for comment but did not hear back by deadline. The co-founder of Main St. Brewing in Vancouver said other provinces are stepping up to support the sector. "We're simply asking B.C. to do the same, to recognize the value of what we bring to our communities and help us survive," said Cameron Forsyth. Beattie told CBC craft brewers in Alberta are taxed at a rate four-times lower than in B.C. "If you produce 2,000 hectolitres — which is the average size brewery in B.C. — you pay $80,000 in a markup. [In Alberta] they would pay $20,000 in markup," he said.
CTV News
27 minutes ago
- CTV News
Guelph woman loses almost $10K to cryptocurrency scam
A Guelph resident is out nearly $10,000 after she fell for a cryptocurrency scheme. The woman told Guelph Police she received a text from someone claiming to represent an investment company. That was followed by a WhatsApp message with a link to the company's website. The woman did some initial research on the site before deciding to make small investments. 'When those appeared to yield returns, she deposited $2,500 into an online cryptocurrency account and then, a day later, deposited another $7,000,' Guelph Police said in a release. She then requested a withdrawal. A 'representative' of the company allegedly told the woman she would have to deposit another $25,000 to free up the funds. 'The woman described the company's tactics as manipulative and trying to force her to make decisions quickly without time to think,' said police. Victims are urged to report scams through the Canadian Anti-Fraud Centre's website or by phone at 1-888-495-8501, even if there has been no financial loss.
CTV News
37 minutes ago
- CTV News
ADVERTISEMENT Watch CTV National News: How Trump suspending de minimis tariffs exemptions could affect Canadian business A local business owner shares her frustration after U.S. President Trump decides to remove de minimis exemptions. Genevieve Beauchemin reports.
CTV National News: How Trump suspending de minimis tariffs exemptions could affect Canadian business A local business owner shares her frustration after U.S. President Trump decides to remove de minimis exemptions. Genevieve Beauchemin reports.
