LION E-Mobility AG: Positive preliminary Track Tests of High-Performance LIGHT Battery at German Premium OEM

LION E-Mobility AG: Positive preliminary Track Tests of High-Performance LIGHT Battery at German Premium OEM

Zug (Switzerland), August 1, 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading manufacturer of battery packs for electromobility and energy storage solutions, reports on business development in the second quarter of 2024 and significant progress with the LION LIGHT Battery featuring immersion cooling technology.

LION achieved revenues of 4.8 million euros in an extremely challenging market environment (Q1 2024: 1.2 million euros). EBITDA improved in Q2 2024 to -2.1 million euros (Q1 2024: -2.6 million euros). However, these financial figures are below expectations. This results from the weak battery market so far this year. Consequently, LION has adjusted its outlook for the full year 2024 and expects that sales will be partially deferred to 2025. LION expects no more than € 42million in sales in 2024 which could lead to a slightly negative EBITDA.

Successful Preliminary tests of LION’s "Immersion Cooling" Technology at German Premium OEM
On the technical side, LION made significant progress. The prototype of the innovative LIGHT battery with direct cell cooling ("immersion cooling") was successfully further developed. In July 2024, a German premium vehicle manufacturer conducted track tests. LION’s high-performance battery achieved outstanding results: vehicles with battery voltages of 400 and 800 Volts showed performance that was 30% above the current market standard.

Dr. Joachim Damasky, CEO of LION, stated: "Even though we cannot evade the current weak market environment for battery packs, we have made a significant step towards market maturity of our high-performance batteries with immersion cooling technology. We are very proud of the excellent results of our OEM partner's first track tests and see enormous potential for our battery technology which has been many years in development."

Also, the collaboration with SVOLT in battery pack manufacturing is progressing as planned. The first deliveries to customers of the prototype C-sample are expected in the fourth quarter of 2024.

Grants received from State of Thuringia
LION has received 1.8 million Euros in the first half of the year in grants from the State of Thuringia. The commitment reinforces the decision of LION to have production based in Thuringia.

New Contract with DPDHL: Supply of Battery Modules for Delivery Vans
With the conclusion of a new contract with the DPDHL Group, LION will provide battery modules as spare parts for delivery vans in the future. This contract underscores LION's commitment to long-term partnerships and confirms the company's ability to offer customized solutions for demanding customers.

Sale of Stake in TÜV Süd Battery Testing Planned
To focus on its core business, particularly its own immersion technology, LION has embarked on the sales process of its stake in TÜV Süd Battery Testing.
 

About LION E-Mobility AG
LION E-Mobility AG is a manufacturer of lithium-ion battery packs. The company offers customized plug-and-play solutions for electric vehicles as well as for stationary and industrial applications. With a current annual production capacity of 2 GWh, LION is ideally positioned to address the growing demand for high-performance energy storage solutions.

The company operates highly automated module assembly lines at its own production facility in Germany. LION's battery packs offer the highest standards in terms of safety, quality, and reliability.

Founded in 2011, LION E-Mobility AG (ISIN: CH0560888270, WKN: A2QH 97) is listed on the stock exchanges in Munich, Frankfurt, and Hamburg.

www.lionemobility.com
 

LION E-Mobility Investor Relations
Kirchhoff Consult
lion@kirchhoff.de
ir@lionemobility.com | www.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.