Cost Reduction Initiatives
Implemented headcount reductions and other cost-saving measures expected to result in annualized savings of approximately $65 million.
Inventory Reduction Success
Achieved a $15 million inventory reduction in Q3 and a $35 million year-to-date reduction as of September 30, mostly related to raw materials.
Positive Momentum with EPA Program
Obtained $30 million in expense reimbursement payments under the EPA grant and received over 275 purchase orders related to the program.
Lion Electric Vehicle Mileage
Lion's electric vehicles have traveled over 32 million miles, demonstrating operational success and customer satisfaction.