Lion Electric partners with Cox Automotive to provide customer support

Manufacturer of zero-emission vehicles The Lion Electric Company (New York Stock Exchange: LEV) recently revealed that it has entered into a partnership agreement with vehicle buying and selling platform Cox Automotive Mobility to provide rapid assistance to Lion Electric customers in the United States.

The partnership follows a successful pilot program between the two companies that began in 2021.

Strategic impact

With 25 maintenance service centers, more than 1,000 technicians and nearly 800 mobile service trucks in the field, Cox Automotive Mobility’s expertise should provide Lion Electric customers with an efficient way to get rid of their vehicle problems. .

This should complement Lion Electric’s network of Experience Centers, which serve as local hubs for electrification maintenance, distribution, training and education.

In addition, Lion Electric will provide Cox Automotive Mobility technicians with extensive training on its products, including maintenance of high voltage systems.

Management commentary

Lion Electric Vice President of Commercial Operations Marc-Andre Page said, “Lion’s customer base continues to grow across the United States as medium and heavy electrification continues to accelerate. It is therefore important that we expand our customer support network to provide our customers with more options and conveniences and provide them with the best possible experience. Lion has always been committed to providing its valued customers with the best possible service, and we look forward to working with Cox Automotive Mobility to continue to deliver an industry-leading customer experience.

Stock Valuation

The consensus among analysts is a moderate buy based on 2 unanimous buys. Lion Electric’s stock average forecast of $17.50 implies upside potential of 116.1% from current levels. Shares have fallen 62% over the past year.

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Joseph P. Harris