Letenda announces Québec as new shareholder

LONGUEUIL, QC, June 16, 2022 /CNW Telbec/ - Letenda, a company that is reinventing public transit with clean and sustainable energy technologies, is proud to announce a new shareholder in the capital of Letenda: Investissement Québec, acting as a mandatory of the Government of Québec.

This investment, through the program Impulsion PME, will allow Letenda to pursue its growth by hiring key team members. Letenda continues the commercialization of the Electrip^®, the accessible zero-emission transit bus designed specifically for electric propulsion.

« The technology developed by Letenda represents exceptional potential to revolutionize the urban and road transport industry. We are proud to welcome the Government of Québec as a new shareholder to support us in the next stages of the company's growth. We are also convinced that this support will generate other business opportunities by attracting private investors from Québec and abroad», said Nicolas Letendre, President and CEO of Letenda. 

« By building an innovative and efficient ecosystem in the battery sector, electric vehicle and green energy sectors that we will be able to decarbonize our economy. With its zero-emission urban bus, Letenda is a key player in taking Québec even further in the development of a sustainable, strong and prosperous economy», said Mme Lucie Lecours, Delegate Minister for the Economy.

« The demand for electric vehicles is exploding globally, particularly due to climate change. Québec is in a good position to accelerate the shift towards the electrification of transportation. With our support, Letenda will continue to develop its know-how and train a workforce specialized in intelligent transport. », added Mme Shirley Dorismond, MNA for Marie Victorin.

« Investissement Québec is proud to contribute to making Québec the leading hub for transportation electrification in North America by supporting local businesses in this fast-growing market. Through programs like Impulsion PME, we are able to support companies like Letenda at a critical moment in their development » said Guy LeBlanc, President and CEO of Investissement Québec.

Letenda is a Québec-based zero-emission bus manufacturer founded in 2016 and propelled by its values of sustainability, innovation, and collaborative spirit. Letenda works with all industry stakeholders to build a sustainable business and a product that is tailored to the needs of operators and passengers. Letenda's Electrip bus innovates through its superior energy efficiency, its unique geometry specially developed for electric propulsion and its manufacturing concept inspired by the aeronautics industry.

For more information on Letenda, visit www.letenda.com, follow @letenda on Linkedin or Facebook.

Endowed with an envelope of $50 million, the Impulsion PME program, managed by Investissement Québec as a mandatory of the Government of Québec, aims to help young innovative companies with high growth potential to have access to start-up capital investment at seed stage.

SOURCE Letenda Inc.