NFYEF - NFI announces battery pack supply agreement with American Battery Systems increasing the resiliency of NFI's North American battery supply chain | Benzinga
ST. CLOUD, Minn., Oct. 04, 2023 (GLOBE NEWSWIRE) -- (TSX:NFI, OTC:NFYEF, TSX:NFI) NFI Group Inc. (NFI), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced a partnership with American Battery Solutions (ABS) for the supply of custom battery packs to power NFI's battery-electric transit buses and coaches in North America that will increase capacity and add resiliency to NFI's North American battery supply.
"Demand for battery-electric buses is accelerating, and we are leading the evolution to zero-emission public transportation. Our partnership with ABS will provide NFI with the capacity, flexibility, and resiliency we need as we ramp up production at our facilities across North America," said Chris Stoddart, President, North American Bus and Coach, NFI. "ABS has made significant investments in their pack assembly and battery technology, providing us with industry leading solutions. We look forward to working together with ABS to advance battery technology for public transportation."
ABS designs and manufactures modular battery solutions for transportation, industrial, and commercial markets primarily in North America and Europe. The team at ABS includes some of the most recognized battery systems experts in the industry, possessing decades of experience in designing, developing, and manufacturing high-volume advanced battery systems.
NFI entered into a five-year agreement with ABS in 2021 and, following two years of extensive development and testing, NFI is now launching ABS batteries into bus production for customer deliveries starting in the first quarter of 2024. ABS will act as a second battery supplier to NFI, and will support NFI's significant battery-electric production ramp-up planned for 2024 and 2025.
The packages designed for NFI utilize NMC cells sourced from one of the world's leading battery cell manufacturers, with cell volume secured through a multi-year supply agreement. ABS' scalable custom designed pack solution fits inside NFI's existing battery enclosure design, providing an alternate source of supply for NFI's battery-electric bus contracts and creating opportunity for technology enhancements. Design and engineering for these new battery packs has been led from ABS' Michigan Innovation Center in Lake Orion, with pack production at ABS' Springboro, OH manufacturing facility.
"We are excited and proud to partner with NFI, a company at the forefront of electric-powered public transportation. This contract reflects NFI's well-placed confidence in ABS' ability to meet technical and performance requirements at a healthy volume with the right cost position," said Subhash Dhar, ABS ...