Auto component and tech supplier BorgWarner has announced its strategic relationship agreement with FinDreams Battery, the battery arm of Chinese automaker BYD, for adoption of latter's battery technology in Western markets.
Under the agreement, BorgWarner will be the only non-OEM localized manufacturer, unaffiliated with FinDreams Battery, with rights to localize LFP battery packs for commercial vehicles utilizing FinDreams 'Battery blade' cells in Europe, the Americas, and select regions of Asia Pacific, for a period of 8 years.
Further, BorgWarner will receive a license from FinDreams Battery to use its 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.
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"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. We are excited to work together to develop cutting-edge cell and battery pack technology to further electrify this market segment", he added.
Commenting on the strategic agreement, Micheal He, President and CEO of FinDreams Battery, said, "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".
"The partnership provides diversified and flexible options for overseas customers, and also offers extra access to localized battery packs using FDB blade cells for overseas customers. Devoted to the vision of 'let people use batteries carefree', FDB will cooperate with BorgWarner to make joint efforts for the speedy electrification of the overseas commercial vehicle market", he added.
BorgWarner is already making battery packs for certain e-mobility applications, having acquired the technology and manufacturing know-how from the acquisition of German EV battery manufacturer AKASOL AG in 2022.
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