FinDreams & BorgWarner sign LFP battery production deal
Under this agreement, BorgWarner will be the preferred manufacturer of LFP battery packs with FinDreams’ blade cells for commercial vehicles (Class 3 and above) in Europe, the Americas and parts of the Asia Pacific region. The contract period is eight years.
Next to the battery cell supply deal, the two companies also agreed that “BorgWarner will receive a license from FinDreams Battery to use FinDreams Battery’s intellectual property related to its battery pack design and manufacturing process.”
“The lithium iron phosphate battery chemistry is an exciting technology that is becoming increasingly important globally due to its cost competitiveness. We have seen increased demand from our customers for packs with LFP cells,” said Frédéric Lissalde, President and CEO of BorgWarner. “We believe FinDreams Battery is right for BorgWarner in this area, with its 20-plus years of experience and success in LFP batteries for the mobility sector across China and Europe.”
Micheal He, President and CEO of FinDreams Battery, added: “At the key timing of complicated geopolitics and starting point of lithium-ion phosphate electrification for overseas commercial vehicles, the overseas localization cooperation with BorgWarner on battery packs using FDB blade cells in the territory takes the advantages of each other’s strengths, provides diversified and flexible options for overseas customers, and also offers extra access to localized battery packs using FDB blade cells for overseas customers.”
BorgWarner offers numerous e-mobility components, such as inverters with silicon carbide semiconductors or entire electric drives. In 2021, the US company acquired the German specialist Akasol, based in Darmstadt, for battery packs for commercial vehicles. Whether Akasol, which has thus far sourced its cells from Samsung SDI, is also involved in the assembly of battery packs with LFP cells from FinDreams is not mentioned in the press release on the deal.