- BorgWarner to be the preferred manufacturer of LFP battery
packs for commercial vehicle markets (class 3 and above) in
Europe, the Americas, and parts of
Asia Pacific
AUBURN
HILLS, Mich., Feb. 8, 2024
/PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) today announced a
strategic relationship agreement with FinDreams Battery, a
subsidiary of BYD Company Limited. Under this 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. The
duration of the agreement is 8 years.
In addition to receiving state-of-the-art blade cells for
manufacturing LFP battery packs in the covered geographies,
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. We are excited to work together to
develop cutting-edge cell and battery pack technology to further
electrify this market segment."
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, 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."
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility — to help build a cleaner,
healthier, safer future for all.
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