LION Smart GmbH receives order from The Lion Electric Co. for the year 2020
LION E-Mobility AG is pleased to announce that LION Smart GmbH has received an order from its Canadian customer "Lion Electric" for the supply of BMW battery systems for the year 2020, following a successfully concluded framework agreement on December 23rd, 2019. The contract has a total term of four years, until 2023.
LION E-Mobility AG expects a sales volume for the fiscal year 2020 of about €8.5 million that should significantly increase over the next years. The battery packs, with a storage capacity of around 42.6 kWh each, shall be delivered monthly to Lion Electric and will be used for the electrification of school buses and trucks. The first series of storage units are scheduled for delivery starting February 2020. The quantities are predicted to increase monthly. The estimated sales volumes for the following two years 2021/2022 ordered by Lion Electric are forecasted to be over €10 million per year.
With this project, LION Smart has created a new business line that can generate significant sales in the short-term by providing battery solutions for vehicles, buses and trucks. Offering products rather than only engineering services is a key new initiative.
The LION team is looking forward to working with the Lion Electric team and wants to thank its shareholders and customers for their ongoing support.
About The Lion Electric Co.
The Lion Electric Co. is an innovative manufacturer of zero-emission vehicles. Lion creates, designs, and manufactures all-electric school buses, minibuses for paratransit, shuttle buses, and urban trucks. Lion is a North American leader in electric OEM.
Always actively seeking new technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs.
The relationship between LION E-Mobility AG and Lion Electric is merely on a client basis. The companies are completely independent one from each other and have no related parties and/or Agency relationship.
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