Lion Electric (LEV) is fast approaching a deadline this weekend to find new investors amid a cash crunch and an EV market that’s in turmoil, Bloomberg’s Mathieu Dion reports. The company announced on November 18 that it had received a two-week extension of its credit agreement with three lenders, as well as temporary relief on the conditions of a loan provided by the Caisse de Depot et Placement du Quebec and Finalta Capital Inc. The deadline to meet its obligations to these creditors is November 30. However, Lion Electric hasn’t been able to find additional funding yet, according to Quebec’s economy minister, raising the odds it will seek creditor protection.
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