Lion electric enters into multi-year cell supply agreement for ev battery manufacturing with a top-tier supplier

Montreal , nov. 22, 2022 /prnewswire/ - the lion electric company (nyse: lev) (tsx: lev) ("lion" or the "company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, today announced that it has entered into a four-year supply agreement with a top-tier supplier (the "supplier") for the supply of lithium-ion battery cells (the "cell supply agreement") to be used for the manufacturing of batteries for electric vehicles. subject to the terms and conditions of the cell supply agreement, the supplier has committed to supply, and lion has committed to purchase, on a non-exclusive basis, lithium-ion battery cells at escalading volumes over calendar years 2023 and 2024, at agreed upon prices, subject to adjustments, including to account for increases in the prices of raw materials and changes in specifications.
LEV Ratings Summary
LEV Quant Ranking