MILWAUKEE, March 5, 2020 /PRNewswire/ -- Briggs &
Stratton Corporation (NYSE: BGG) today announced a new strategic
supply agreement with a large manufacturer of light electric
vehicles to power a new line of lithium-ion vehicles with Briggs
& Stratton's Vanguard Commercial Battery System, beginning in
June.
Based on the Vanguard Commercial Battery System's proprietary
design, Briggs & Stratton application engineers were able to
efficiently develop a durable, customized battery solution that
meets the vehicle's power and performance requirements in a
cost-effective package. With this lithium-ion power, the new line
of vehicles charges 2X faster than lead-acid batteries, is lighter
weight and runs longer*, which means not only lower energy
costs, but improved overall operational efficiency and a better
user experience.
"Briggs & Stratton continues to collaborate with industry
leaders and provide power solutions as a leader in power
application. We're excited to add another premier customer and
further expand the applications we power with the new Vanguard
Commercial Battery System," said Dave
Rodgers, Senior Vice President and President of Global
Engines & Power at Briggs & Stratton
Corporation.
This agreement follows Briggs & Stratton's announced
agreement in October 2019 with ARGO
to power its all-new Rover Xtreme Terrain electric unmanned ground
vehicle, reinforcing market readiness and need - both within and
outside of the lawn & garden industry - and validating the
quality, durability and reliability of this Vanguard power
innovation.
New Advanced Battery Manufacturing Facility
Announced
As a result of rapidly increasing demand, Briggs
& Stratton also announced it will open a new Advanced Battery
Manufacturing facility in Tucker,
GA. Initially, four production lines will be operational
within the new 78,000 sq. ft. facility, which has capacity to
accommodate future growth. Briggs & Stratton is currently
recruiting for positions in the new location.
"This facility is in addition to the current production space
located in Milwaukee, Wis., which
going forward will serve as a developmental facility to support the
influx of interested customers in a wide range of markets,
including lawn & garden, military, construction, municipal and
golf & leisure," noted Rodgers.
Briggs & Stratton launched its 48-volt Vanguard Commercial
Battery System this past October as part of its overall business
transformation that includes driving growth in commercial markets
and introducing new enabling technologies including battery power
solutions. According to Rodgers, "This is truly an exciting time at
Briggs & Stratton as we expand the breadth of our growth
opportunities and diversify our power solutions offerings and the
customer segments we serve."
*Per the manufacturer.
About Briggs & Stratton Corporation:
Briggs &
Stratton Corporation (NYSE: BGG), headquartered in Milwaukee, Wisconsin, is focused on providing
power to get work done and make people's lives better. Briggs &
Stratton is the world's largest producer of gasoline engines for
outdoor power equipment, and is a leading designer, manufacturer
and marketer of power generation, pressure washer, lawn and garden,
turf care and job site products through its Briggs &
Stratton®, Simplicity®,
Snapper®, Ferris®,
Vanguard®, Allmand®, Billy Goat®,
Murray®, Branco® and Victa®
brands. Briggs & Stratton products are designed, manufactured,
marketed and serviced in over 100 countries on six continents. For
additional information, please visit www.basco.com
and www.briggsandstratton.com.
Safe Harbor Statement:
This release contains
certain forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially
from those projected in the forward-looking statements. The words
"anticipate", "believe", "estimate", "expect", "forecast",
"intend", "plan", "project", and similar expressions are intended
to identify forward-looking statements. The forward-looking
statements are based on the company's current views and assumptions
and involve risks and uncertainties that include, among other
things, the ability to successfully forecast demand for its
products; changes in interest rates and foreign exchange rates; the
effects of weather on the purchasing patterns of consumers and
original equipment manufacturers (OEMs); actions of engine
manufacturers and OEMs with whom the company competes; changes in
laws and regulations, including U.S. tax reform, changes in tax
rates, laws and regulations as well as related guidance; imposition
of new, or change in existing, duties, tariffs and trade
agreements; changes in customer and OEM demand; changes in prices
of raw materials and parts that the company purchases; changes in
domestic and foreign economic conditions (including effects from
the U.K.'s decision to exit the European Union); the ability to
bring new productive capacity on line efficiently and with good
quality; outcomes of legal proceedings and claims; the ability to
realize anticipated savings from the business optimization program
and restructuring actions; and other factors disclosed from time to
time in the company's SEC filings or otherwise, including the
factors discussed in Item 1A, Risk Factors, of the company's Annual
Report on Form 10-K and in its periodic reports on Form 10-Q. The
company undertakes no obligation to update forward-looking
statements made in this release to reflect events or circumstances
after the date of this release.
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SOURCE Briggs & Stratton Corporation