InoBat Auto and Ideanomics Announce Plans to Build Battery R&D and Production Facilities in Indiana, USA with Support from the State of Indiana

  • InoBat Auto, Ideanomics and the Indiana State declare ambitious electric vehicle electrification plans for the North American market.

  • As part of their strategic partnership, InoBat Auto and Ideanomics intend to:

  • InoBat is also investigating the potential construction of a cell manufacturing facility under future offtake agreements.

  • The Indiana State was chosen as a privileged location for investment due to its high concentration of equipment manufacturers, commercial conditions conducive to industrial projects and state support.

  • The listed plans follow Ideanomics’ strategic investment in InoBat Auto from January 2022 to secure future battery supply and to market standard and custom batteries for the US market.

INDIANAPOLIS, June 23, 2022 /PRNewswire/ — InoBat Auto, Europe’s pioneering premium electric vehicle battery provider, in cooperation with Ideanomics, a global company focused on accelerating the adoption of commercial electric vehicles (EVs), plans to launch in a progressive investment project based in Indiana, United States, in three steps. First, to open a new R&D and production unit for the assembly of modules and battery packs with an initial annual production capacity of 100 MWh. The two parties then aim to build a commercial-scale module and battery pack assembly plant with an initial annual production capacity of 2 to 3 GWh. The first two phases would be powered by cells from InoBat Auto’s European facilities. Depending on sufficient and bankable off-take agreements, InoBat Auto is also exploring the possibility of building a bespoke battery cell production facility with an initial annual capacity of 4 GWh.

Ideanomics and InoBat Auto

Marian Boček, President and CEO of InoBat Auto, said: “I am extremely excited to announce our plans for the new R&D and production unit for modules and packaging in Indiana, illustrating the valuable synergies and opportunities offered by our partnership with Ideanomics. At InoBat, we bring innovation across the entire value chain through our cradle to cradle approach. Ideanomics has a similar entrepreneurial mindset to ours when it comes to the electrification of various mobility segments and seeks to reinvent the market with innovative financing and energy solutions to drive EV adoption. This announcement demonstrates our thriving new relationship as well as our fundamental commitment to sustainability. Our presence in Indiana will ensure that we both achieve our common goal of producing outstanding standard and custom batteries for the US market. »

InoBat Auto and Ideanomics (NASDAQ:IDEX) extend the strategic partnership established in January 2022 develop, produce and distribute integrated battery solutions for the US market. InoBat Auto’s state-of-the-art R&D capability and manufacturing model enables the rapid design, engineering and creation of custom EV battery solutions that exceed current industry standards and meet customer needs. InoBat Auto’s first generation NMC 622 pocket cell achieved 25% faster charging 5-80% capacity, 20% longer life, 6% higher capacity, 28% better capacity retention at -20°C (-4°F) than the reference pocket cell (with the same dimensions and weight) from a globally active East Asian battery manufacturer. The European company is already delivering its 4e generation cells to customers for vehicle prototyping purposes. These advanced battery solutions will provide a significant technological advantage to Ideanomics’ vehicle, charging and energy solutions to meet the growing needs of fleet operations for mobility and clean infrastructure.

“InoBat’s collaboration with Ideanomics as well as Indiana strong diplomatic and trade relations with Slovakia prove Indiana is the best possible location for InoBat’s first North American headquarters, production facility and eventual commercial-scale battery module and battery pack assembly plant,” said Brad Chambers, Indiana Secretary of Commerce. “The Indiana Economic Development Corporation is committed to InoBat and Ideanomics and will remain a true partner every step of the way as we seek to identify sites and negotiate a package of potential incentives.”

InoBat Auto and Ideanomics are proud to be supported by the Indiana State, which will provide administrative, advisory, tax, and site location support while positioning the state to be a forerunner for battery development in the United States. The stimulation of the local economy, the strong industrial concentration and the potential for Indiana a sustainable mobility hub Indiana a natural fit to accommodate the previously mentioned investments and long-term vision of InoBat Auto and Ideanomics.

“This partnership demonstrates our continued efforts to make the EV the natural successor to mobility,” says Alf Poor, CEO of Ideanomics. “Our mission has been to accelerate the innovations needed to accelerate the adoption of electric vehicles. Our partnership with InoBat will secure future battery supply and create a force multiplier for technologies across our operating companies. This is another reflection of our commitment to boosting cleantech job opportunities in the United States.”

This commitment could also attract other clean technology companies to the state of Indiana, including InoBat Auto’s C2C (Cradle-to-cradle) value chain investments, such as stationary energy storage, battery recycling, and production of battery-grade recycled materials. The parties also express a common interest in locating other relevant suppliers near future listed facilities and maximizing the use of green electricity at their facilities to comply with global Net Zero commitments.

This announcement follows InoBat Auto’s recent commercial agreement with Lilium, the developer of the first all-electric vertical take-off jet, becoming their exclusive battery supplier. These two announcements demonstrate InoBat Auto’s ambition to provide state-of-the-art standard and bespoke batteries, pushing the boundaries of the global sustainability industry.

About InoBat

InoBat specializes in the research, development, manufacture, supply, recycling and ultimate careful disposal of innovative, custom-designed electric batteries to meet the specific requirements of global consumer and specialty OEMs in the automotive sectors. , utility vehicles, motorsport and aerospace.

InoBat brings innovative solutions to the entire value chain thanks to its “cradle-to-cradle” approach, which highlights the concept of circular economy. InoBat is backed by a strong consortium of investors and strategic partners such as Rio Tinto, Amara RajaIdeanomics, IFC, IPM Group, Matador, AEN, CSG and Across.

A European-based battery manufacturer, InoBat already has a battery research and development center and a pilot line under development in Slovakia. InoBat has also been approved for grant funding under the EU sponsored program Important Projects of Common European Interest and has already received a grant from the Slovak government.

For more information and news about InoBat, please visit https://inobatauto.eu.

About Ideonomics

Ideanomics (NASDAQ”IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By combining vehicles and charging technology with design, implementation and financial services, we provide solutions that enable the commercial world to commit to an EV future.To keep up to date with Ideanomics, please follow the company on social media @ideanomicshq or visit: https://ideanomics.com.

CONTACTS

InoBat Auto
Gary Haddon
Gary.haddon@inobat.eu

Katarina Stryckova
Katarina.stryckova@ipmllp.com

Zoë Watt, Teneo for InoBat Auto
zoe.watt@teneo.com

Ideanomics, Inc.
Tony SklerSenior Vice President of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Malory Van Guilder, PR Skyya for Ideanomics
malory@skyya.com

Quote

Quote

See original content to download multimedia: https://www.prnewswire.com/news-releases/inobat-auto-and-ideanomics-reveal-plans-to-build-rd-and-battery-production-facilities-in -indiana-usa-supported-by-the-state-of-indiana-301573592.html

SOURCE Ideonomy

#InoBat #Auto #Ideanomics #Announce #Plans #Build #Battery #Production #Facilities #Indiana #USA #Support #State #Indiana

Add Comment