LION E-Mobility AG Advances with LIGHT Battery and Strategic Divestment

LION E-Mobility AG has announced a major development in its LIGHT battery technology. The company completed high-temperature tests with a German premium OEM, showcasing the battery's advanced immersion cooling technology. This milestone brings the product closer to commercialization. However, no exclusivity agreement exists with the OEM, suggesting potential discussions with additional clients.

Moreover, LION has divested its 30% stake in TÜV SÜD Battery Testing, enhancing liquidity. The joint venture partner, TÜV SÜD AG, is expected to acquire the stake for an estimated €5.6 million, based on the annual report figure. The proceeds will mainly serve to address outstanding liabilities.

The company has adjusted its FY24 forecast, projecting a 41% decrease in sales to €33 million due to plummeting battery prices and cautious customer behavior. However, a rebound is anticipated by H2 2025, with an expectation of nearing operational cash flow break-even.