BorgWarner Inc. has unveiled a strategic relationship agreement with FinDreams Battery, a subsidiary of BYD Company Limited, marking a pivotal milestone in the advancement of electric vehicle (EV) technology.
According to the agreement, BorgWarner will become the sole non-OEM localized manufacturer, independent of FinDreams Battery, with exclusive rights to localize LFP (lithium iron phosphate) battery packs for commercial vehicles. These battery packs, utilizing FinDreams Battery’s blade cells, are set to be deployed across Europe, the Americas, and select regions of Asia Pacific for a duration of 8 years.
In addition to securing access to FinDreams Battery’s cutting-edge blade cells for manufacturing LFP battery packs in the designated regions, BorgWarner will also be granted a license to leverage FinDreams Battery’s intellectual property pertaining to battery pack design and manufacturing processes.
Frédéric Lissalde, President and CEO of BorgWarner, expressed enthusiasm about the collaboration, highlighting the growing significance of lithium iron phosphate battery chemistry on a global scale due to its cost competitiveness. Lissalde noted, “We have seen increased demand from our customers for packs with LFP cells,” emphasizing BorgWarner’s confidence in partnering with FinDreams Battery, which boasts over 20 years of experience and success in LFP batteries for the mobility sector across China and Europe. He added, “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, underscored the strategic significance of the collaboration amid evolving geopolitical dynamics and the burgeoning era of lithium iron phosphate electrification for overseas commercial vehicles. He stated, “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.” He emphasized the partnership’s role in providing diversified options for overseas customers and facilitating enhanced access to localized battery packs. He reiterated FinDreams Battery’s commitment to facilitating seamless battery usage and pledged joint efforts with BorgWarner to expedite the electrification of the overseas commercial vehicle market.
