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XALT Signs $1 Billion Battery Deal with Chinese Busmaker
Batterymaker XALT Energy LLC has signed a multi-year agreement worth more than $1 billion to supply Hong Kong-based electric-bus maker Hybrid Kinetic Group Ltd. with lithium titanate batteries.
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Batterymaker XALT Energy LLC has signed a multi-year agreement worth more than $1 billion to supply Hong Kong-based electric-bus maker Hybrid Kinetic Group Ltd. with lithium titanate batteries.
HK will use the devices, which are rated between 68 kWh and 100 kWh, to power electric buses leased to municipal operators throughout China.
Midland, Mich.-based XALT, formerly known as Dow-Kokam, says its prismatic, large-format lithium-ion batteries can be charged in less than 10 minutes. The company will begin shipping to HK in the third quarter of 2015.
XALT also is the sole supplier of lithium-ion batteries for the Formula E worldwide racing series that debuted in Beijing last autumn. The competition involves electric Formula One-style cars that can zip from zero to 60 mph in three seconds.
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