The Lion Electric Co. says it is laying off 100 more employees or about seven per cent of its total workforce in a move to reduce costs.

The move affects workers -- mainly on the nightshift -- at its Saint-Jerome factory in Quebec's Laurentian region.

The maker of electric buses and trucks also laid off 150 employees last fall.

In a release Thursday, the company says the decision stemmed largely from delays around the granting of government subsidies, namely the federal Zero Emission Transit Fund.

Lion Electric has said that several school bus orders hinge on the buyers' receiving grants from the program, which aims to speed up electrification at school bus and public transit operators.

The announcement comes as the company reported a full-year net loss of $103.8 million versus net income of $17.8 million in 2022, and despite revenue growth of 81 per cent.

- This report by The Canadian Press was first published on Feb. 29, 2024.