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LION E-Mobility AG: LION Smart GmbH informs about project progress with Tier-1 Supplier

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DGAP-News: LION E-Mobility AG / Key word(s): Statement/Alliance
14.05.2021 / 07:54
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

LION Smart GmbH informs about project progress with Tier-1 Supplier

Baar (CH), Garching, May 14, 2021 - LION Smart GmbH, a 100% subsidiary of LION E-Mobility AG, delivered various module constellations in the first quarter of 2021 as part of the LIGHT Battery development project with the Tier 1 supplier. As part of a small series production, produced or assembled in Garching, a total of 80 modules have been delivered to the Tier 1 supplier to date.

The installation of the modules with the corresponding applications in the test vehicles was carried out by the Tier 1 supplier in cooperation with extensive support services provided by LION Smart. All delivered modules and batteries are working in the vehicles according to the expectations of both involved companies. The power of the batteries is approximately 85 kWh. The batteries drive two electric motors installed in the vehicles, each with 200 kW, for a total of 400 kW.

The optimizations and potential improvements identified in the course of the project are continuously reviewed on the basis of a testing and validation strategy agreed with the customer. The climatic, electrical and mechanical tests required for this purpose, as well as the necessary simulations, have significantly increased the testing status of the LIGHT Battery and also have resulted in corresponding adjustments in the actual implementation of the LIGHT Battery. These necessary adjustments based on the findings from the tests carried out were one of the reasons why the final acceptance originally scheduled for the end of March was delayed.

Taking into account the current state of knowledge and the result of a pending climatic test, LION Smart GmbH is optimistic that it will be able to achieve finalization and acceptance of the development project towards the end of May 2021.
 

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 GmbH, a developer of battery packs and battery management systems. LION Smart also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG. LION E-Mobility AG also holds 100% of the shares in LION E-Mobility North America Inc.

www.lionemobility.com
 

Responsible for the press release: BoD LION E- Mobility AG

Contact LION Smart GmbH
Thomas Hetmann
Managing Director | Board Member
 

 

LION E-Mobility Investor Relations
Sebastian Duering
Phone: +49 221 94991871
Mobile: +49 151 58204309
Email: ir@lionemobility.com

LION E-Mobility Investor Relations
Matthias Glemser
Phone: +49 89 360363247
Email: 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.


14.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

LION E-Mobility AG

Lindenstraße 16

6340 Baar

Switzerland

Phone:

+41 (0)41 500 54 11

Fax:

+41 (0)41 500 54 12

E-mail:

info@lionemobility.de

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:

1196486


 

End of News

DGAP News Service

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