LION E-Mobility AG wins order worth over 12 million € from bus manufacturer KARSAN

LION E-Mobility AG wins order worth over 12 million € from bus manufacturer KARSAN

Zug (Switzerland), 1^st March 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, has reached a milestone in its mission to spearhead sustainable transportation solutions. LION Smart Production, a subsidiary of LION, has secured a purchase order with the prominent Turkish bus manufacturer KARSAN totaling over 12 million € in value. This further solidifies LION’s position as a key player in the global electrification of public transit.

The contract encompasses around 6 million € in firm orders to be delivered in 2024, reflecting the confidence placed in LION's superior battery technology to meet the demanding requirements of electric vehicle (EV) applications. Additionally, with a floating component of around 6 million € the agreement allows for flexibility to accommodate the evolving needs of KARSAN and the rapidly expanding market for electric buses. The additional order is also expected to be delivered in 2024.

"We are thrilled to announce this contract with KARSAN, deepening the partnership," said Dr. Joachim Damasky, CEO of LION. "This collaboration underscores our shared commitment to shaping a future where clean, electric transportation is the norm. By joining forces, we are poised to make a significant impact in reducing greenhouse gas emissions and building a more sustainable world for generations to come."

As the global demand for electric vehicles continues to surge, partnerships like this between the LION E-Mobility group and KARSAN are paramount to driving innovation and progress in sustainable transportation. By combining their expertise and resources, both companies are poised to lead the charge towards a future powered by clean energy and zero-emission mobility solutions.

The innovative battery solutions provided by LION are renowned for their exceptional performance, reliability, and longevity, making them the ideal choice for powering electric vehicles across diverse applications. Designed with advanced technology and engineering expertise, these batteries packs offer superior energy density and fast-charging capabilities, ensuring optimal efficiency and extended operational range for electric buses in urban environments.

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 Production GmbH, a manufacturer of battery packs, LION Smart GmbH, a developer of battery packs and battery management systems and LION Smart North America Inc. 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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LION E-Mobility Investor Relations

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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.