EV/AV Report: April 26, 2021

Toronto, Ontario – In this week’s electric and autonomous vehicle report, Honda commits to 100 percent EV sales by 2040, a recent report shows Alberta as a growing hub for tech development and Lion Electric prepares to enter the public trading market.

Hon Da Path to Carbon Neutrality

With carbon neutrality high on the list of priorities for many automakers, Honda announced that they are targeting to have EVs represent 100 percent of the company’s vehicle sales by 2040.

According to Honda global president and CEO Toshihiro Mibe, the company sees environmental sustainability as going hand-in-hand with the care for personal safety that goes into building safe vehicles for customers.

Honda claims to have the highest fleet average fuel economy and lowest CO2 emissions of any full-line automaker in North America, according to the latest data from the U.S. Environmental Protection Agency (EPA) and the most recent GreenHouse Gas (GHG) report by Environment and Climate Change Canada.

Wild, Wild, Sweater Vest 

A report entitled, 2021 Alberta Technology Deal Flow Study, published by the Alberta Enterprise Corporation has shown that prairie province is quickly becoming a leader in tech development in Canada.

“Over the last two years we’ve seen record-breaking venture capital investment in Alberta and we have seen a tremendous increase in the number of technology companies since we first started measuring,” said Kristina Williams, CEO of the Alberta Enterprise Corporation. 

“These milestones demonstrate that our technology sector is resilient and has growth momentum. Investors are choosing to invest in Alberta’s founders and those women and men are successfully starting and growing innovative companies here.”

In addition, the study showed that nearly 40 percent of local tech companies surveyed exceeded revenues of $1 million, a 66 percent increase from 2018.

Lion on Display

One of Canada’s biggest names in emissions-free transportation, Lion Electric, has announced that they have joined up with Northern Genesis Acquisition Corp. to help take the Quebec-based EV company to the trading room floor.

Following the closing of the business combination transaction, the common shares of Lion will trade on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the new symbol “LEV”, and the warrants of Lion will trade on the NYSE under the new symbol “LEV WS” and on the TSX under the new symbol “LEV.WT.”

Lion recently received its largest single order of electric trucks from Pride Group Enterprises, to help the company electrify its fleet.


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