The electric vehicle story is only set to accelerate.
In fact, according to the International Energy Agency, electric vehicle sales are on course to hit an all-time high this year. “The IEA has previously stated that electric vehicle sales hit 6.6 million in 2021. In the first quarter of 2022, EV sales came to 2 million, a 75% increase compared to the first three months of 2021,” said CNBC.
Helping, global leaders wanting millions of EVs on the roads. President Biden wants half of all new auto sales to be electric, for example. Now, there’s even a push to replace older school buses, with electric models. That’s where Lion Electric (LEV) comes into play. Granted, it’s a small $388 million company, but it has a big story.
At the moment, about 1% of all school buses are all-electric as of 2021. As that number increases under a $1 billion award from the Biden Administration to U.S. school districts, LEV could be a standout winner. On Tuesday, shares of LEV were up about 7% to $1.96 a share. All after the company announced it delivered its first LionC zero-emission school bus, which was funded by the U.S. Environmental Protection Agency’s Clean School Bus Program to Mount Desert Island Regional School System.