InoBat, Ideanomics to build R&D and battery production facilities in the US
European battery supplier InoBat Auto and American EV firm Ideanomics are embarking on a phased investment project based in Indiana, USA, in three stages, as part of their ambitious EV electrification plans for the North American market.
In the first phase, the companies plan to open a new R&D and production facility for battery module and pack assembly in Indiana, with an initial annual production capacity of 100 MWh. Both the parties then aim to construct a full commercial-scale battery module and pack assembly plant with an initial 2-3 GWh yearly production capacity.
The first two phases of manufacturing would be supplied by cells imported from InoBat Auto's European facilities. Depending on sufficient and bankable offtake agreements, InoBat Auto is also exploring the option of to construct a tailor-made battery cell production facility with an initial 4 GWh annual capacity in the US.
Marian Boček, CEO of InoBat Auto, commented on the anouncement, "I am incredibly excited to announce our plans for the new module and pack R&D and production facility in Indiana, exemplifying the valuable synergies and opportunities that our partnership with Ideanomics offers".
He added, "At InoBat, we provide innovation across the entire value chain due to our "cradle to cradle" approach. Ideanomics has a similar entrepreneurial mindset to our own in terms of aiming to electrify various mobility segments and is looking to reinvent the market with innovative financing and energy solutions to drive EV adoption. This announcement is a testament to our new and thriving relationship as well as our core commitment to sustainability".
InoBat Auto's cutting-edge R&D capability and manufacturing model enable the rapid designing, engineering and creation of bespoke EV battery solutions that exceed current industry standards and meet customer needs.
The company is already delivering their 4th generation cells to customers for vehicle prototyping purposes. These advanced battery solutions will provide a significant technological edge for Ideanomics' vehicle, charging, and energy solutions to meet fleet operations' growing needs for clean mobility and infrastructures.
"This partnership demonstrates our continuing effort to make EV the natural mobility successor," states Alf Poor, Chief Executive Officer at Ideanomics. "It has been our mission to expedite the innovations needed to accelerate EV adoption. Our partnership with InoBat will secure future battery supply and create a force multiplier for technologies across our operating companies. This is another reflection of our commitment to boost clean technology job opportunities in the U.S."
InoBat CEO remarked that their presence in Indiana will ensure the companies reaching their joint target of producing exceptional commercializing standard and tailor-made battery packs for the U.S. market. The State of Indiana was chosen as a prime location for investment due to its high concentration of OEMs, suitable business conditions for industrial projects and support from state government, said the company's press statement.
The latest investment could also attract additional clean technology companies to the state of Indiana, including investments from InoBat Auto's C2C (Cradle-to-cradle) value chain, such as stationary energy storage, battery recycling and production of battery-grade recycled materials.
