KULR - KULR Selected by Top 5 American Electric Truck Manufacturer to Design and Develop Safer Next-Gen Batteries | Benzinga
SAN DIEGO, Oct. 02, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced it has received a contract from a top-5 American electric truck manufacturer ("Manufacturer") to develop newer and safer batteries for its next generation fleet of electric trucks and SUVs. By implementing the KULR ONE Design Solutions ("K1-DS") platform, KULR believes it can expedite the evolution to next generation electric trucks and SUVs anticipating safer EVs for consumers and faster growth for the Manufacturer.
Though terms of the contract were not disclosed, the Manufacturer has publicly forecasted a substantial ramp-up in production of its electric truck next year with KULR's safer and superior battery performance to distinguish itself from rivals and unlock its expected growth. According to Research and Markets in a report released last year, the U.S. electric truck market is expected to grow at a 54% CAGR and reach $15 billion by 2030.
K1-DS integrates KULR's deep knowledge and experience in the most challenging environments, such as spaceflight ...