Ideanomics, a global company that accelerates the commercial adoption of electric vehicles, has announced a strategic investment in InoBat Auto, a European-based battery technology and manufacturing company.
InoBat, Voderady, Slovakia. Credit: InoBat
Credit: InoBat
Ideanomics' early-stage investment is intended to further de-risk its supply chain by securing future battery supply across its operating companies. The funding will support the completion of InoBat’s R&D centre and pilot battery plant located in Voderady, Slovakia by the end of 2022.
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In conjunction with the investment, Ideanomics and InoBat will also work together to develop, produce, and distribute integrated battery pack solutions for the US market. The collaboration is intended to accelerate Ideanomics subsidiaries’ continued growth and deliver potential revenue opportunities targeting other US commercial EV fleet customers.
“We have been seeking an innovative battery partner to support our electrification strategy. We hope that this investment and partnership will help future-proof our battery and supply needs to realise our commitment towards making EV the natural mobility successor,” said Robin Mackie, President of Ideanomics Mobility.
InoBat specialises in the pioneering research, development, manufacturing, and provision of premium innovative electric batteries custom-designed to meet customers’ specific requirements within the automotive, commercial vehicle, motorsport, and aerospace sectors.
“InoBat prides itself on providing innovative solutions across the entire battery value chain thanks to our own 'cradle-to-cradle' approach. We are thrilled to join hands with Ideanomics, a like-minded company with vehicles across a wide range of industries,” said Marian Bocek, Chief Executive Officer of InoBat Auto.
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“This strategic partnership allows us to expand our battery technology for both on- and off-road commercial EVs while increasing our capacity and future opportunities to support the US e-mobility market.”
InoBat is actively pursuing plans to build several giga factories on additional sites across Europe and other global locations through 2024 in order to support and serve the international market at scale.
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