The electric vehicle boom is only set to speed up.
Not only are governments around the world pushing for millions of EVs to reduce emissions, The White House just announced a $1 billion award to U.S. school districts to replace older buses with electric models.
According to Fortune.com, “Only about 1% of the nation’s 480,000 school buses were electric as of last year, but the push to abandon traditional diesel buses has gained momentum in recent years. Money for the new purchases is available under the federal Clean School Bus Program.”
Also, according to The White House, “The awards will go to school districts in all 50 states and Washington D.C., in addition to several U.S. territories and institutions serving federally recognized Tribes. The new awards will support the purchase of 2,463 buses, and 95% of these buses will be electric.”
One way to trade the news is with Lion Electric (LEV), a $520 million company, with average volume of just over a million shares. Lion Electric designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses for the school, paratransit and mass transit segments.