News Summary

Flo, an EV charging technology firm based in Québec City, is closing its manufacturing plant in Shawinigan, resulting in approximately 80 layoffs. This decision is a part of the company’s efforts to navigate shifting regulations and trade tensions affecting its operations. CEO Louis Tremblay described the move as a ‘responsible step’ towards achieving profitability. Despite these changes, Flo maintains its operations in the Grand-Mère region and continues to explore business opportunities in the US with new products that comply with the current regulations in markets like California and New York. The company has faced challenges similar to other Canadian EV tech firms such as Exro Technologies and Lion Electric, which have also undergone strategic reviews or restructuring. Founded in 2009, Flo has raised $136 million CAD to support its expansion efforts.