The Lion Electric Company (NYSE: LEV) (TSX: LEV) (“Lion” or the “Company”), a manufacturer of all-electric medium and heavy-duty urban vehicles, announced that it has completed production of its first lithium-ion battery pack at the company’s battery manufacturing facility located in Mirabel, Quebec. Final certification of the first battery pack is expected in the first quarter of 2023, followed by a gradual ramp up of production in 2023. The first batteries produced in Mirabel will power the Lion5 truck and the LionAmbulance, expected to reach commercial production in the first half of 2023.
“The production of our first battery pack out of our Mirabel battery facility is an important step for Lion and should, over time, bring with it a new level of optimization for product design and production efficiency,” said Yannick Poulin, Lion Electric’s Chief Operating Officer. “I am incredibly proud of our team for the continued advancement of this project, and I am very thankful to the Canadian and Quebec governments for their support in making it a reality.”
Lion’s new Mirabel battery manufacturing facility, once fully operational, is expected to give the Company a key market advantage, with vertical integration providing more control of supply, technology advancement, and vehicle integration. Given the battery is typically the most expensive component of an electric vehicle, this new manufacturing capability should have a
direct impact on Lion’s development of medium- and heavy-duty electric vehicle platforms, while also offering important economic benefits.
At full scale, Lion’s battery manufacturing facility is expected to have an annual production capacity of five gigawatt-hours of battery capacity. The news comes as Lion has also recently celebrated the start of production at its U.S. vehicle manufacturing facility in Joliet, Illinois