The Lion Electric Company, a manufacturer of all-electric medium- and heavy-duty vehicles, announced the company has entered into an agreement with Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, and its related company, ENGS Commercial Finance Co., to provide financing solutions to Lion school bus and truck customers in the United States and Canada through LionCapital Solutions' vehicle financing program.
"I am very pleased to announce this partnership with Mitsubishi HC Capital Canada and ENGS Commercial Finance Co., and to have financial partners who share Lion's sustainable transportation vision and values. This agreement 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 trucks, thereby making it easier and simpler for our clients to secure the financing required for the purchase of their Lion vehicles." said William Blanchard, Head of LionCapital Solutions.
"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," said Craig Weinewuth, CEO & President ENGS Commercial Finance Co. "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. As an organization that provides financing solutions focused on the United Nations Sustainable Development Goals (SDGs), we firmly believe that electric transportation not only positively impacts our environment, but can ultimately improve our quality of life. That makes our partnership with Lion perfectly attuned."
LionCapital Solutions' turnkey financing solutions can provide for up to 100 percent of fleet electrification costs, including the initial cost of the vehicle, charging infrastructure and installation, and thus can potentially completely eliminate upfront capital requirements for fleets to transition to electric vehicles.