KULR Selected by Top 5 American Electric Truck Manufacturer to Design and Develop Safer Next-Gen Batteries
October 02 2023 - 8:15AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced it has received a contract from a top-5
American electric truck manufacturer (“Manufacturer”) to develop
newer and safer batteries for its next generation fleet of electric
trucks and SUVs. By implementing the KULR ONE Design Solutions
(“K1-DS”) platform, KULR believes it can expedite the evolution to
next generation electric trucks and SUVs anticipating safer EVs for
consumers and faster growth for the Manufacturer.
Though terms of the contract were not disclosed, the
Manufacturer has publicly forecasted a substantial ramp-up in
production of its electric truck next year with KULR’s safer and
superior battery performance to distinguish itself from rivals and
unlock its expected growth. According to Research and Markets in a
report released last year, the U.S. electric truck market is
expected to grow at a 54% CAGR and reach $15 billion by 2030.
K1-DS integrates KULR’s deep knowledge and experience in the
most challenging environments, such as spaceflight with NASA, which
requires what KULR considers the most stringent battery solutions
platform globally.
“We are proud to partner with another great American EV leader
in utilizing KULR’s proprietary, industry leading technology suite
with the objective of making safer products for end users and
unlocking substantial growth for another great company,” commented
KULR CEO Michael Mo. “We are excited to add to our base of tier one
customers who could choose to work with anyone, but come to KULR
for the critical solutions to meet exacting regulatory standards,
deliver industry leading products, and grow their businesses for
years to come.”
About KULR Technology Group Inc.KULR Technology
Group Inc. (NYSE American: KULR) is a leading energy management
platform company offering proven solutions that play a critical
role in accelerating the electrification of the circular economy.
Leveraging a foundation in developing, manufacturing, and licensing
next-generation carbon fiber thermal management technologies for
batteries and electronic systems, KULR has evolved its holistic
suite of products and services to enable its customers across
disciplines to operate with efficiency and sustainability in mind.
For more information, please visit www.kulrtechnology.com.
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otherwise. Investor Relations:KULR
Technology Group, Inc.Phone: 858-866-8478 x 847Email:
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