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The Lion Electric Company ( NYSE: LEV ) Q3 2024 Earnings Conference Call November 6, 2024 5:30 PM ET Company Participants Dominique Perron - Chief Legal Officer & Corporate Secretary Marc Bedard - CEO & Founder Nicolas Brunet - President Richard Coulombe - CFO Conference Call Participants Kevin Chiang - CIBC Mike Shlisky - D. A. Davidson Rupert Merer - National Bank Operator Welcome to The Lion Electric Third Quarter 2024 Results Conference Call.
[Operator Instructions]. I would now like to turn the call over to Dominique Perron, Chief Legal Officer and Corporate Secretary. Please go ahead, Ms.
Perron. Dominique Perron Good afternoon everyone. Welcome to Lions' third quarter 2024 results conference.
Today, I am here with Marc Bedard, our CEO and Founder, Nicolas Brunet, our President, and Richard Coulombe, our CFO. Please note that her discussion may include estimates and other forward looking information, and that our actual results could differ materially from those employed in any such statement. We invite you to review the cautionary language in this afternoon's press release in our MD&A which contains important information regarding various factors, assumptions and risks that could impact our actual results.
With that, let me turn it over to Marc to begin. Marc Bedard Thank you Dominique, good afternoon, everyone. Thank you for joining us today, since the last quarter, the team at Lion continued to deploy significant efforts in our relentless march towards improving our liquidity position and build sustainable foundations for both the short term and long term success of Lion, as previously announced, we have implemented multiple initiatives to streamline our operations, and we have seen the impact of these on our cash outflows.
We have implemented headcount reductions and initiated other cost reduction initiatives expected to result in annual life cost savings of approximately $65 million. We have implemented a batch size manufacturing approach to our truck business, tying production.
