Lion Electric Celebrates Signing of Global Memorandum of Understanding to Accelerate the Adoption of Medium and Heavy-Duty Zero-Emission Vehicles 

| November 20, 2022

The MOU has also set a goal for 30% of MHDV sales to be electrified by 2030

The Lion Electric Company manufacturer of all-electric medium and heavy-duty vehicles, celebrated the signing of a global Memorandum of Understanding (MOU) by the Biden Administration at COP27 in Egypt, targeted at supporting a path to 100% zero-emission medium and heavy-duty vehicles (ZE-MHDVs) sales by 2040.

The MOU has also set a goal for 30% of MHDV sales to be electrified by 2030, further reinforcing the Administration’s commitment to addressing the climate crisis, and its goals to create a carbon-free power sector by 2035.

“As an original signer, we recognize the Global MOU’s significance and are ready to collaborate with our policy partner group, CALSTART, and other global organizations to focus on decarbonization,” said Nate A. Baguio, Senior Vice President of Commercial Development at Lion Electric. “Transitioning toward ZE-MHDVs will foster job growth in the clean energy sector, develop new, global sales opportunities for the MHDV industry and support the implementation of both the Inflation Reduction Act and the Infrastructure Law.”

Heavy-duty, diesel-powered transportation is considered one of the largest contributors to greenhouse gas emissions (GHG), but by accelerating the path toward a ZE-MHDV market, communities around the world will benefit from cleaner air, better health, and technology innovation to help bolster their economies.

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