AKASOL receives long-term order from a leading Commercial Vehicle Manufacturers

AKASOL received a large follow-up order from one of the world´s leading commercial vehicle manufacturers with a total volume in the high three-digit million-euro range.

From 2021 until the end of 2027 the company will supply the third generation of high energy battery systems for various electric vehicles of the globally operating customer and safeguards AKASOL's dynamic growth within the upcoming years. The total order backlog rises to approximately €2 billion ($2.22 billion) until 2027.

In February 2019, AKASOL expanded the existing framework agreement with the commercial vehicle manufacturer for the delivery of the second-generation battery system in the mid to high triple-digit million-euro range. Due to the successful cooperation, this contract will extend significantly.

“We are proud of the confidence that our long-term customer has once again placed in us to expand our highly successful cooperation and that AKASOL remains supplier for a strategically important e-mobility component for various electric vehicles manufactured by this global player,” said Sven Schulz, CEO of AKASOL AG.

AKASOL already supplies the first generation of the high-performance lithium-ion battery system AKASystem OEM PRC with a storage capacity of 50 kWh to several business units of the customer. It will be followed in 2020 by the second-generation of the AKASystem OEM PRC system with 66 kWh of storage capacity and the same size as the first-generation system but provides approx. 30% more energy and is capable to be fast charged.

From 2021, AKASOL will then additionally deliver the third generation of battery systems with very high energy density mainly focusing on range applications. The so-called AKASystem AKM CYC has the same geometrical dimension as the two previous generations but with an increased storage capacity of approx. 100 kWh per pack, thus providing twice as much energy compared to the battery systems of the first generation. The increased storage capacity is achieved by AKASOL's newly developed cylindrical cell module type AKAModule CYC.

Depending on the installed storage capacity the new battery system technology enables ranges for electric buses or trucks of up to 700 km in real operation and thus meets almost all electrical range requirements of the commercial vehicle industry. Additionally, the third generation also remains capable of fast-charging and can be charged at up to 500 kW. The battery systems will be produced at the new headquarters in Darmstadt starting in 2021, and in new AKASOL US-Facility in Detroit, Michigan starting in 2022.