LION E-Mobility AG / CH0560888270
05.03.2024 - 09:06:18LION E-Mobility: Delivery of first battery packs with high performance SVolt technology expected in Q4 2024
| LION E-Mobility AG / Key word(s): Alliance/Product Launch LION E-Mobility: Delivery of first battery packs with high performance SVolt technology expected in Q4 2024 05.03.2024 / 09:06 CET/CEST The issuer is solely responsible for the content of this announcement. LION E-Mobility: Delivery of first battery packs with high performance SVolt technology expected in Q4 2024 First SVOLT cell samples to be provided in May – first shippings to customers expected in Q4 2024 Intensified cooperation with SVolt in knowledge-management and R&D Improved cell performance and shorter time-to-market for rapidly growing demand Zug (Switzerland), 5 March 2024 – LION E-Mobility AG, a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, has specified and timelined the already announced collaboration with SVolt after the inspection of the test samples in China. Thus, SVolt will develop two new cells directly for LION Smart, a fully-owned subsidiary of LION E-Mobility AG. The first samples are to be delivered to LION in May 2024. Shipping of the battery packs with the SVolt cell technology is expected to start in Q4 2024. The high performance battery packs will integrate both NCM (NMX) High Energy as well as LFP cells. In addition, the two partners agreed on an intensified cooperation. In this respect, LION and SVolt will regularly exchange information on technological innovations and co-operate in the development of new battery packs. This will lead to shared knowledge and boosted sales for LION Smart with SVolt products in Europe and it also encompasses future technologies and developments. Dr. Joachim Damasky, CEO of LION: “SVolt is one of the leading technology companies in Battery industry due to its quality and performance and as such fits perfectly to our high-quality approach. This extended partnership gives us the opportunity to deliver in time exactly what the rapidly growing market needs: Top performance and a very short time-to-market, also guaranteed by our flexible and highly automated battery pack production.” According to the cooperation agreement, the production of NMC (NMX) High Energy and LFP cells for LION´s Generation 2.0 battery packs will be ramped up in Europe in 2025 to secure a shorter supply chain and a more environmentally-friendly logistics. The SVolt battery cells will also provide for an improved performance of the LION cells in a market that is expected to grow by more than 33 % per annum until the end of the decade. This upward movement is driven by long-term factors like the US Inflation Reduction Act, the strong increase in EV infrastructure investments, the ongoing electrification trends in all vehicle types as well as sinking cell costs accompanied by improved battery performance. About LION E-Mobility AG LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the e-mobility sector, especially in the field of electrical energy storage and lithium-ion battery system technology. The company holds 100% of the German LION Smart Production GmbH, a manufacturer of battery packs, LION Smart GmbH, a developer of battery packs and battery management systems and LION Smart North America Inc. LION Smart GmbH also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG. www.lionemobility.com LION E-Mobility Investor Relations Kirchhoff Consult lion@kirchhoff.de ir@lionemobility.com Disclaimer: Statements that express or contain forecasts, expectations, views, plans, goals and assumptions regarding future events or performance are not considered historical facts and may therefore be forward-looking statements. Forward-looking statements are based on the expectations, estimates and plans at the time the statements were made, and therefore involve a number of risks and uncertainties that could cause actual results or events to differ materially from those currently anticipated become. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release. 05.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | LION E-Mobility AG |
| Chamerstrasse 172 | |
| 6300 Zug | |
| Switzerland | |
| Phone: | +41 (0) 41 749 40 75 |
| E-mail: | info@lionemobility.com |
| Internet: | www.lionemobility.com |
| ISIN: | CH0560888270 |
| WKN: | A2QH97 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Tradegate Exchange |
| EQS News ID: | 1851197 |
| End of News | EQS News Service |
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