The Quebec government says it won’t invest more public money in Lion Electric, putting the electric-vehicle maker’s future in doubt.
Economy Minister Christine Fréchette said in a statement Wednesday evening that it wouldn’t be responsible to inject more government funds into the struggling company.
She said that while the province has a duty to support Quebec businesses, Lion’s recovery plan recently submitted to the government “did not justify” more public funding.
The company, headquartered in St-Jérôme, Que., sought creditor protection in December and has since been seeking a buyer.
Reports this week said a group of Quebec investors was interested in buying the company, which manufactured electric school buses and trucks, but needed $20 million in government aid—a proposal that was presented to Premier François Legault’s caucus this week.
The Quebec government has already invested $177 million in Lion Electric.
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