DGAP-News: LION E-Mobility AG: LION Smart signs development contract for its LIGHT Battery with Fox Automotive Switzerland AG
04.12.2018 (www.4investors.de - in Kooperation mit DGAP - EQS Group):
DGAP-News: LION E-Mobility AG / Key word(s): Incoming Orders/Miscellaneous
LION E-Mobility AG: LION Smart signs development contract for its LIGHT Battery with Fox Automotive Switzerland AG
04.12.2018 / 13:25
The issuer is solely responsible for the content of this announcement.
Development contract for MIA electric vehicle Baar, 2018-12-04 - LION Smart GmbH, a developer of electrical energy storage devices and lithium-ion battery system technology, has signed an agreement with Fox Automotive Switzerland AG to implement the LION LIGHT Battery in the MIA electric vehicle.
The development contract includes the adaptation and integration of the LION LIGHT Battery into the existing installation space of the series vehicle concept MIA. In addition, MIA vehicles are to be equipped with the LIGHT Battery. The parties have agreed not to disclose the amount of the order.
Tobias Mayer, CEO of LION E-Mobility AG, comments: "With this order we can further design both the LIGHT Battery and the production lines to the needs of mass production. Thus, we can guarantee security of supply when production starts". LION is cooperating with Hörmann Automotive, among others, in the already started development stage of this project.
"The LIGHT Battery concept convinced us across the board," says George Walliser, CEO of Fox Automotive Switzerland. "We are determined to consistently renew and further develop our MIA vehicle concept in order to bring the vehicle onto the roads throughout Europe together with our partners. Range and safety play a decisive role in this strategy, and with the LIGHT Battery concept, we are convinced that we can match these criteria ".
Fox holds all rights and patents to the MIA vehicle concept. According to Fox plans, the existing fully automated production line for MIA will be rebuilt in spring 2019 and production will start in the course of 2019.
High-resolution images can be found here: https://www.lionemobility.de/en/news/lion-smart-signs-development-con
In the market for electric mobility, up to 15 million new electric vehicles are expected on the roads worldwide by 2030 - not including hybrid vehicles. The drivers for this development are rising costs for operating vehicles based on fossil fuels, stricter regulations and growing market pressure from Asia, as well as a new environmental awareness. However, to date, neither the cost nor the range of battery systems required have often met the high expectations of consumers and automakers. LION is meeting these challenges by constantly improving and further developing its battery system technology.
For further information, please contact our PR agency Weber Shandwick, Philipp Hanke (+49 89 380179 48, email@example.com).
About Fox Automotive:
Fox is the owner of all of the IP, patents, trademarks of the MIA Electric Vehicle (EV) brand. It has a full-fledged assembly line, which will be capable of producing 12,000 EV-cars per year by the second half of 2019. Fox continues to advance its electronic vehicle technology to increase mileage per charge and develop affordable mobility options in the electronic vehicle space.
Additional disclosure about Fox, its business, management and financial performance, all as required to meet the requirements of the Exchange, will be publicly disclosed in due course.
About LION E-Mobility:LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the E-Mobility sector, in particular in electrical energy storage and lithium-ion battery system technologies.
The company owns 100% of the German company LION Smart GmbH, a developer of battery packs and battery management systems. LION Smart GmbH also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG.
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Telefon: +41 41 500 54 11
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Telefon: +49 89 380179 48
This presentation contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Mr. Walter Wimmer
LION E-Mobility AG
04.12.2018 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
LION E-Mobility AG
+41 (0)41 500 54 11
+41 (0)41 500 54 12
A1JG3H , A1JG3H
Regulated Unofficial Market in Frankfurt, Hamburg, Munich (m:access)
End of News
DGAP News Service
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