BorgWarner inks a strategic agreement with FinDreams Battery, a subsidiary of BYD Company. Under this agreement, BorgWarner will be the only non-OEM localised manufacturer, unaffiliated with FinDreams Battery, with rights to localise LFP battery packs for commercial vehicles utilising FinDreams Battery blade cells in Europe, the Americas, and select regions of Asia Pacific. The duration of the agreement is 8 years.
In addition to receiving blade cells for manufacturing LFP battery packs in the covered geographies, BorgWarner will receive a license from FinDreams Battery to use its intellectual property related to its battery pack design and manufacturing process.
Frédéric Lissalde, President & CEO, BorgWarner said, “The lithium iron phosphate battery chemistry is an exciting technology that is becoming increasingly important globally due to its cost competitiveness. We have seen increased demand from our customers for packs with LFP cells. We believe FinDreams Battery is right for BorgWarner in this area, with its 20-plus years of experience and success in LFP batteries for the mobility sector across China and Europe.”
Micheal He, President & CEO, FinDreams Battery said, “At the key timing of complicated geopolitics and starting point of lithium ion phosphate electrification for overseas commercial vehicles, the overseas localisation cooperation with BorgWarner on battery packs using FDB blade cells in the territory takes the advantages of each other’s strengths, provides diversified and flexible options for overseas customers, and also offers extra access to localised battery packs using FDB blade cells for overseas customers. Devoted to the vision of ‘let people use batteries carefree’, FDB will cooperate with BorgWarner to make joint efforts for the speedy electrification of the overseas commercial vehicle market.”
