LION E-Mobility AG announced that its CEO, Dr. Joachim Damasky, will retire at the end of January 2027 and step down from the Board of Directors. He will remain in office until then to ensure a smooth transition and will continue to be available to the company as an adviser thereafter. The operational business of the German subsidiaries LION Smart GmbH and LION Smart Production GmbH will be managed by a new Managing Director, who will be announced shortly.
The leadership change comes at a pivotal moment for the Zug, Switzerland-based battery pack manufacturer. During his three-year tenure, Dr. Damasky led the development and modernisation of LION's NMC+ battery platform, bringing the company's first own battery to series maturity and demonstrating its capabilities as a battery OEM. Following the conversion of the plant, production of NMC+ battery packs resumed at the end of June 2026, and LION is delivering them to customers. By the time Dr. Damasky leaves, the NMC+ production line is to be fully automated.
LION also completed its restructuring under Dr. Damasky. In 2025, revenue rose by 68% to EUR 28.3 million and EBITDA reached EUR 7.5 million. The NMC+ battery packs are designed for demanding applications in e-mobility, industrial applications and safety-critical segments, including defence. The next priorities are to strengthen the supply chain and broaden the customer base.
In parallel, LION has expanded its battery energy storage (BESS) business. The first construction phase of the Finsterwalde BESS project has been completed, and the project pipeline continues to grow. LION's goal is to become the leading system integrator for battery systems in Germany and Europe. Under Dr. Damasky's leadership, LION also continued to advance its immersion cooling technology, supporting efforts to improve thermal management, safety, reliability and performance of battery systems for demanding applications. More details are available in the original release.
Ian Mukherjee, Chairman of the Board of Directors, said: "On behalf of the Board of Directors, I would like to thank Joachim for his high commitment over the past three years. He led LION through its restructuring and brought NMC+, our first own series battery, into production. We are pleased that he will complete the automation of the line and remain available to LION as an adviser."
Dr. Damasky said: "NMC+ is in production, and the line will be fully automated by the end of January. Together with the BESS business, the team has a strong foundation for the next steps. I would like to thank my colleagues, who have pursued this path with great commitment, and our investors, whose trust made this development possible in the first place. I look forward to continuing to support LION as an adviser."
The transition matters for investors and customers because LION is moving from a restructuring phase into execution on two fronts: scaling automated NMC+ production and building a BESS integration business. The appointment of a new Managing Director for the German subsidiaries, expected shortly, will signal how the company intends to manage that dual focus. LION E-Mobility AG is listed on the stock exchanges in Munich, Frankfurt and Hamburg, and further information is available at www.lionemobility.com.
