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Canada based manufacturer opening plant in Illinois, adding at least 745 jobs

Canada based manufacturer opening plant in Illinois, adding at least 745 jobs
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JOLIET, Ill. (WREX) Canada s Lion Electric Company is opening its first plant in the U.S. and chose Illinois as the location!
Governor JB Pritzker s office announced the deal on Friday. Lion Electric Company manufactures all-electric medium and heavy-duty urban vehicles.
A minimum of $70 million will be invested to build a new facility dedicated to producing medium and heavy-duty electric vehicles (EVs) in the U.S. The facility is expected to come online in the second half of 2022, setting into motion annual production capacity of 20,000 zero-emission vehicles a year, and creating at least 745 jobs for Illinoisans. ....

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The EV SPAC craze could create the next dot-com bubble

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In 2020, at least seven EV startups have gone public through mergers with special-purpose acquisition companies, and an eighth has said it s close to finalizing a deal.
Only one of those eight companies has delivered even a single vehicle, and some don t plan to begin deliveries until 2022.
Still, some of the startups have higher stock prices than Ford.
Three experts told Business Insider the wave of pre-revenue EV startups going public through SPAC mergers reminds them of the late 1990s dot-com bubble.
The auto industry has long been a notoriously difficult environment for startups. Tesla is the only US automaker selling vehicles on a large scale that was founded after 1925. ....

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