The man who led the development of the first giga-factory for
the world´s leading EV supplier, partners with Elinor Batteries.
The partnership with Morlus Technology accelerates the development
of Elinor’s battery manufacturing base in Orkland, Norway.
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Mr. Xi Shen (front left), CEO of Morlus
Technology, and Arne Fredrik Lånke (front right), CEO of Elinor,
sign the partnership agreement between the two companies. Behind,
from left: Dr. Xi Jiang, G.M. of Cell Development of Morlus, Dr.
Rong Hao, Director of Technology Research of Morlus, Huaping Liu,
V.P. and Chief Engineer of Morlus, Guanglin Wu, V.P. and CFO of
Morlus, Truls Johansen, CSO of Elinor Batteries, Sofi Hildonen, EVP
of Business Development, Elinor Batteries, Dr. Fengliu Lou, VP of
Technology, Elinor Batteries. Photo: Elinor Batteries
Elinor Batteries in Central Norway enters a collaboration with
Chinese battery company Morlus Technology. The partnership grants
Elinor access to cutting-edge battery technology and world-leading
expertise in factory construction and entails that Elinor will have
batteries for commercial sale in the European market by the spring
of 2025.
“We are honored that world-leading battery technologists have
chosen to collaborate with us. This level of expertise does not
currently exist in Europe, and it is crucial for our plans to
establish a battery value chain in the Nordic region,” says Arne
Fredrik Lånke, CEO of Elinor Batteries.
Leading expertise
The founder of Morlus, Shen Xi, has been a driving force of
innovation and technology in the battery industry for over 20
years. His merits include leading battery design, factory design
and construction for BYD, the world’s largest electric vehicle
supplier and a top tier battery company. At BYD, Mr. Shen led the
design and construction of the first battery manufacturing base in
China with a capacity above 10 GWh and the design of the first
LFP-battery for xEVs.
At Morlus, Mr. Shen has built a world class team that sets the
company in the very forefront of lithium battery technology
development. The agreement between Morlus and Elinor covers product
development, production, and factory construction.
Investment Decision in 2025
Elinor Batteries aims to launch products for order as early as
this fall. Together, Elinor Batteries and Morlus have set a goal of
achieving a market-leading position in Europe.
The agreement will accelerate the plans for building the
gigafactory for battery production in Orkland, with an investment
decision targeted for 2025.
Exceptional timing
Renewable energy investor Lars Helge Helvig owns the investment
company Valinor, the majority owner of Elinor. Helvig believes that
the timing is exceptional for investing in batteries from
Norway.
“The battery market is booming, and Europe is striving to become
self-sufficient in batteries. According to the IEA, new energy
storage is crucial for 60% of the emission reductions needed in the
energy sector by 2030. Batteries are now the world’s
fastest-growing energy technology,” Helvig explains.
Global footprint
For Morlus, the collaboration with Elinor Batteries represents
an opportunity to grow its global footprint.
“Norway is the country with the highest proportion of renewable
energy globally, and it has a strong industrial foundation. Both
will enable us to produce a green and low-carbon battery, which is
unique,” says Shen Xi.
“The Elinor team has demonstrated exceptional professionalism,
efficiency, and immense passion for the work they will undertake.
Coupled with their investor Valinor’s rich experience in the
renewable energy sector, this gives us strong confidence in our
future collaboration.”
About Elinor Batteries
Elinor, founded by Valinor, is a Norwegian battery production
company offering competitive and sustainable batteries for the BESS
market. The company is headquartered in Trondheim and plans to
establish a gigafactory in the Eiktyr giga-site and industrial park
in Orkland municipality.
About Jiangsu Morlus Technology Company Limited
Morlus has developed a range of industry-leading battery
products and built significant capacity in battery research,
development, and production. Among its largest shareholders, in
addition to founders and employees, are Gongniu Electrics/Bull
Electrics, Zhengxuan Investment, and China-Singapore Suzhou
Industrial Park Development Group. The company holds more than 70
patents, with factories located in Nantong and its development
center in Shenzhen.
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Elinor Batteries, CEO Arne Fredrik Lånke Phone: +47
97436562 Mail: afl@elinorbatteries.com
Elinor Batteries, Investor Relations Guro Solem Mail:
guro@elinorbatteries.com
Morlus, Media relations Rong Hao Tel: +86 186 6628 6235
Mail: hao.rong@morlus.com