‘Green’ bus company drives off a cliff — feds out $20.6M, Quebec eats $140M more in losses

Federal records show over $20 million in unpaid public loans to the failed electric bus maker, while Quebec’s government writes off an additional $140 million. Export Development Canada still won’t say how deep its own losses run.

 

source: The Canadian Press / Christinne Muschi

The federal government is still chasing $20.6 million in unpaid public funds from Lion Electric, the bankrupt Quebec-based electric bus manufacturer once hailed as a “green economy” success story.

According to a recently tabled Order Paper response (Q-303), the principal amount of the contribution currently outstanding is $20,606,528.60, recorded as a receivable in the Public Accounts of Canada under Innovation, Science and Economic Development Canada (ISED).

The same document shows Export Development Canada (EDC) is refusing to disclose whether it also provided financing to the company, citing confidentiality. That means Canadians have no clear picture of the total federal exposure to Lion’s collapse.

Meanwhile, the Quebec government confirmed it will take a $140-million hit following Lion Electric’s decision to seek liquidation, according to CBC News. The Saint-Jérôme firm, which had received hundreds of millions in provincial and federal subsidies, filed for bankruptcy protection this week after months of financial turmoil and plunging share prices.

Lion Electric’s failure marks one of the largest wipeouts yet from Ottawa’s electric-vehicle industrial policy — a politically favoured sector that has already seen major taxpayer losses tied to Stellantis, Northvolt, and other “green tech” projects backed by Prime Minister Mark Carney’s government.

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Sheila Gunn Reid

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Sheila Gunn Reid is the Alberta Bureau Chief for Rebel News and host of the weekly The Gunn Show with Sheila Gunn Reid. She's a mother of three, conservative activist, and the author of best-selling books including Stop Notley.

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  • Bruce Atchison
    commented 2025-11-03 19:43:25 -0500
    Trump is right. It IS a green scam.