Lion Electric: 39 million lithium-ion battery cells by 2024
The Quebec manufacturer Lion Electric announced on Tuesday that it has entered into a contract to supply lithium-ion cells for the manufacture of batteries for electric vehicles.
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Lion Electric, however, did not reveal the name of the supplier, qualified as « leading », engaged in this supply contract for a period of four years, until the calendar year 2026.
During the first two years of the contract, i.e. in 2023 and 2024, Lion Electric is committed to purchasing a total of 39 million lithium-ion battery cells, provided that the supplier completes its process of meeting the requirements of the Quebec manufacturer.
On the other hand, the contract provides for termination rights with penalties in the event of a breach of the commitments set out for the period indicated, indicated Lion, specifying that the volumes and prices for the years 2025 and 2026 will be agreed with its partner. .