EQS-News: LION E-Mobility AG: Positive preliminary Track Tests of High-Performance LIGHT Battery at German Premium OEM
EQS-News: LION E-Mobility AG
/ Key word(s): Quarter Results/Alliance
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 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 New Contract with DPDHL: Supply of Battery Modules for Delivery Vans Sale of Stake in TÜV Süd Battery Testing Planned About LION E-Mobility AG 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. LION E-Mobility Investor Relations
01.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | LION E-Mobility AG |
Chamerstrasse 172 | |
6300 Zug | |
Switzerland | |
Phone: | +41 (0) 41 749 40 75 |
E-mail: | [email protected] |
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: | 1959459 |
End of News | EQS News Service |
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1959459 01.08.2024 CET/CEST