- The Lion Electric Company (LEV) has signed a four-year supply agreement with a top-tier supplier
- The company will purchase lithium-ion battery cells for the manufacturing of electric vehicle batteries
- It estimates that it will purchase 39 million cells between 2023 and 2024
- The Lion Electric Company designs and manufactures zero-emission vehicles
- Lion Electric (LEV) opened with a loss of 1 per cent, trading at $3.93 per share
The Lion Electric Company (LEV) has signed a four-year supply agreement with a top-tier supplier.
The company will purchase lithium-ion battery cells for the manufacturing of electric vehicle batteries.
The non-exclusive purchases will occur at escalating volumes over 2023 and 2024 at prices adjustable to account for increases in the cost of raw materials and changes in specifications.
Lion Electric estimates that it will purchase 39 million lithium battery cells over the first two years.
Discussions regarding volumes and unit prices for 2025 and 2026 are ongoing.
The Lion Electric Company designs and manufactures zero-emission vehicles. It specializes in all-electric class 5 to class 8 commercial urban trucks, as well as all-electric buses and minibuses.
Lion Electric (LEV) opened with a loss of 1 per cent, trading at $3.93 per share.