Investor presentation June 2018 - LION E-Mobility AG
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Investor presentation
June 2018
E-Mo ility is o i g…
15 Mio. New vehicles with pure electric drive until 2030 on the streets
LION E-Mobility develops products for all relevant markets
LION E-Mobility AG Investor presentation I June 2018 I Slide: 2
Todays attery te h ology has ot rea hed it’s target yet
Costs and range do not meet OEM requirements
R e q u i r e m e n t s f o r f u t u r e B a t t e r y Te c h n o l o g y
Pack
incl. Cell
High cost and limited
range
Today
Cost / kWh
~ € 200
Improving the range at lower
costs
Target
~ € 100
Range
250-350 km 1000 km
LION E-Mobility develops products to meet requirements
LION E-Mobility AG Investor presentation I June 2018 I Slide: 3
WE ELECTRIFY THE FUTURE… BMW i3 with LION Battery Pack
LION E-Mobility at a glance
Build to electrify the future
TÜV SÜD AG
70%
Investments LION E-Mobility TÜV SÜD
North America 30%
LION Smart GmbH Battery Testing
Inc. GmbH
Inboard
LION E-Mobility Technology: LIGHT Battery
Challenge for successful battery concepts
▪ Low cost, high quality solution
▪ Fully automated high speed production
▪ Absolutely safe: Failure tolerant design,
single cell fusing, extinguishing concept
▪ Best energy density for highest capacity, best range
▪ Optimal thermal management -> Fast charging
capability, best life span
▪ Best integrability due to modular and flexible
architecture
The LIGHT Battery is designed to overcome all those challenges
LION E-Mobility AG Investor presentation I June 2018 I Slide: 7
LION E-Mobility Technology: LIGHT Battery
Highest energy density at lowest cost
Cell Supercell Customized Battery
Pack
+ LIGHT Battery concept is based on + Designed for maximum automatization + Designed for maximum
cylindrical cells (mass product) during production automatization during production
+ Both important cell formats 18650 + Energy density of >230Wh/kg (current + Reference implementation in i3-
and 21700 will be used cell technology) Package: 94kWh (original: 33kWh)
+ Format 18650 is current cost + Improved safety through extinguishing + Higher life expectancy through
leader, 21700 will be in 2025 system and single cell fuse on both sides innovative cooling concept
+ Both formats are and will be leader + Number of parts minimized to meet + Cooling-liquid surrounding the cells
in energy density stringent cost targets evenly
+ No single source dependency due + Infrared communication makes wires + No cables in the pack significantly
to various possible suppliers obsolete to reduce cost reduce costs and assembly efforts
The LIGHT Battery is designed to meet all current and future requirements
LION E-Mobility AG Investor presentation I June 2018 I Slide: 10
LION E-Mobility Technology: LIGHT Battery Supercell
Highest energy density at lowest cost
Adjustable size
Meeting the needs of every
Fully automated production application and customer
Reduce cost of production to minimum
No wires
Wireless communication through
pack to reduce cost of production to
minimum
Improved safety
Through sophisticated double
sided fuse and immersion
Even temperature distribution
Through innovative cooling to
guarantee maximum lifetime
Highest energy density
Through reducing overhead parts
and wires No bus bars
Through contacting concept no bus
bars are necessary
The LIGHT Battery Supercell is designed to meet all current and future requirements
LION E-Mobility AG Investor presentation I June 2018 I Slide: 11
LION E-Mobility Technology: LIGHT Battery
Symmetrical and self-similar liquid flow
Super Cell Module System
▪ No valves needed
▪ Homogeneous cooling through all Super Cells
▪ Low flow resistance
▪ Extinguishing concept fully integrated
LION E-Mobility AG Investor presentation I June 2018 I Slide: 12LION E-Mobility Technology: LIGHT Battery
License Business Modell
Advantages LION E-Mobility
License
▪ Increases volume
▪ Accelerates entry into new markets
▪ Accelerates market dominance
Assembly of Welding and
Quality tests
Modules to
pack
Screwing,
End of line ▪ Reduces capex
all parts glueing Electronics, test
assembly sealing ▪ Generate revenue before SOP
▪ R&D cost can be divided onto multiple
customers
Advantages License Receiver
▪ Reduces complexity
▪ Shortens time to market
▪ Audited Supplier Network
▪ Reliable quality
LION E-Mobility develops production line concept for LIGHT Battery ▪ Reduces costs via shared resources
and builds up supplier and partner network (e.g. for production line ▪ Full automation, best price
setup) ▪ State of the art technology
▪ Less to no R&D costs, highly competitive
License receiver is granted the right to produce LIGHT Battery ▪ Reduces risks by means of safety mechanisms,
proven idea
Payment is one time upfront + amount/kWh output
LIGHT Battery can be the perfect licenced solution for Tier1 suppliers and small to medium OEMs
LION E-Mobility AG Investor presentation I June 2018 I Slide: 13LION E-Mobility Technology: Battery Management System
Safety in every battery application and innovation for the future
GEN1 GEN2
Automotive
• Full automotive conformity
• Derivatives for specific markets and
requirements (stationary, marine)
48V / LowVolt
• Monoboard for smallest packaging
• Newest ADI chip LTC6813
• Multi-master-system
Battery Management System
+ The Battery Management System is the key
electronic of every battery • Highly innovative wireless
Wireless
communication
+ Together with the BDU crucial component for
• Cooperation with ADI for R&D and
safety
demonstration
+ Diversification is necessary, as number of
applications and thus individual requirements grow
LIGHT BMS
• Highly innovative infrared
+ LION Smart has more than 10 years of experience communication
with Battery Management Systems • Cooperation with ADI for R&D and
demonstration
+ LION Smart has strong partnership with Analog
Devices in the field of ASICs and chips for Battery
Management Systems
Diversify the portfolio to meet the needs of every battery type
LION E-Mobility AG Investor presentation I June 2018 I Slide: 14LION E-Mobility: Battery Testing Strategy
Strengthen the leading lab in Europe and expand globally
Global Battery
Testing TIC
Market
CAGR
2022-2025
>8%
2750
CAGR
2017-2022
+20%
2180
Mio €
Total balance
in k€ FTEs Revenue Net income
sheet
2011 6 403 -419 1,012
876
2012 12 1,265 -236 3,147
2013 16 2,679 245 8,269
2014 18 2,927 -503 8,435
2015 20 4,336 460 7,782
2016 24 4,763 253 9,779
2017 2022 2025 2017 28 6,536 636 12,483
Growth Existing and well running business Strengthen and expand
+ Global Battery Testing + Together with TÜV SÜD one of the leading + Strengthen the existing lab end expand the capacity of the
Market is growing with battery test labs was setup in Garching, site to meet the rapidly growing demand
CAGR +20% until 2022 Germany + Set up new locations in Germany or close European
+ Germany will be one key + Market leader in performance and safety country together with TÜV SÜD operational in 2020
market for growth testing, excellent customer relation and + Set up additional locations in global markets, together with
repetition TÜV SÜD or stand-alone, depending on market need
+ More than 8 years of experience with battery
testing, mainly in automotive industry
Together with TÜV SÜD, LION is in the perfect position to take a leading role in the rapidly growing market
LION E-Mobility AG Investor presentation I June 2018 I Slide: 15LION E-Mobility: Summary
LION E-Mobility participates on all stages of battery value creation chain
Total market battery packs (bn.$)
Battery pack cost 2020
Cell Pack
- Cell costs are and will be
dominant factor in total cost
61%
Cell 2020 34 17
39%
Pack - Pack is a significant
share of total cost and market
Battery
Engineering Testing Management Assembly Service
System
Partner
LIGHT Battery
LION E-Mobility participates on all stages of battery value creation chain
LION E-Mobility AG Investor presentation I June 2018 I Slide: 16LIGHT Battery go-to-market concept
Automotive and non-automotive
Total market battery packs (bn.$)
Construction, Agriculture,
Intralogistics
CAGR 9.6
Stationary Mining, Maritime Aviation Leisure
2015-2025 Excellent
Opportunity
Excellent
Opportunity
Excellent
Opportunity
Excellent
Opportunity
Medium
Opportunity
+9%
LIGHT Battery LIGHT Battery LIGHT Battery LIGHT Battery LIGHT Battery
perfectly suited perfectly suited perfectly suited perfectly suited moderately
22.75 for this for this for this for this suited for this
9.1 application application application
application application
14.7
9.1 xEV Bus Motorsport Motobike Sportscars
38
Good Excellent Excellent Good Excellent
6 27.5 Opportunity Opportunity Opportunity Opportunity Opportunity
LIGHT Battery LIGHT Battery
perfectly suited for LIGHT Battery LIGHT Battery LIGHT Battery
11.25 perfectly suited perfectly suited perfectly suited
this application. well suited for
Very strong for this for this for this
this application. application.
competition application. application.
expected.
2015 2020 2025
Electronic devices
Non-Automotive
Automotive + Bus = focus market first step
LIGHT Battery is perfectly suited for all important markets
LION E-Mobility AG Investor presentation I June 2018 I Slide: 17LION E-Mobility: Equity Story
LION E-Mobility pursues a long term and successful equity story
1. Market growth
▪ Strong market increase of electrified vehicles and energy storages
▪ Substitution of lead-acid starter battery
▪ Need to store renewable energy
2. Positioning of LMI
▪ Growth even in the early phase (development time)
▪ Strong demand for battery testing services
▪ Expansion abroad possible with the TÜV, e.g. Asia
▪ Battery Management System – biggest potential in the future
3. Dividend policy
▪ In current growth phase, profits are reinvested in the JV and in the subsidiary
▪ In the saturation phase dividend distributions to shareholders are planned
4. Senior management commitment
▪ Senior management is the largest shareholder group and thereby ensure credibility and stability
LION E-Mobility AG Investor presentation I June 2018 I Slide: 18LION E-Mobility: Marketing strategy
State of the art marketing
Combination of experience from different areas for disproportionate added value
LION E-Mobility AG Investor presentation I June 2018 I Slide: 19LION E-Mobility: Shareholder Structure
Senior management as largest shareholder group
Facts
Head Office Switzerland
Head Office Switzerland
38% 36% Industry Sector E-Mobility; Segments: Battery-
Tests, -Prototyping,
-Management-Systems
WKN A1JG3H
ISIN CH0132594711
15%
11% Symbol LMI
Listings Xetra, Frankfurt, Munich
Internet www.lionemobility.com
52-Week-Range 4.30 – 8.40 EUR
Founder & Employees
Outstanding Shares 7.68 Mio.
Strategic Seed Investors January 2014
Institutional Investors Market Capitalization 37.02 Mio. EUR (25.06.2018)
Free Float
LION E-Mobility AG Investor presentation I June 2018 I Slide: 20Contact
Company LION E-Mobility AG
Lindenstraße 16
6340 Baar
Switzerland
www.lionemobility.com
Contact North America:
LION E-Mobility North America Inc.
Roland Bopp
Phone: +1 917 345 6365
roland.bopp@lionemobility.com
Switzerland:
Walter Wimmer
Phone: +43 (0) 664 4331367
ir@lionemobility.com
LION E-Mobility AG Investor presentation I June 2018 I Slide: 21Disclaimer Forward looking statements This presentation contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. LION E-Mobility AG Investor presentation I June 2018 I Slide: 22
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