- (PLX AI) - Hexagon Purus shares are expected to soar today after the company announced yesterday a battery pack supply contract for a minimum of $800 million.
- • Hexagon Purus was nominated by major commercial truck OEM to supply battery packs for zero emission heavy-duty vehicles
- • The contract is worth $800 million in 2024-2027 period, with another $400 million if an extension option to 2029 is exercised
- • This is a very significant win which should trigger substantial positive share price reaction, SEB said
- • The contract shows the significant volume potential in the company's business model and adds credibility to the company's position as a supplier of battery packs, SEB said
- • The contract is a substantial de-risking event for Purus' mid-term revenue target of NOK 4-5 billion and a major testament to Purus' battery technology, Carnegie said
- • We see great potential for a multiple expansion, and shares are likely to rise by double digits today, Carnegie said
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