Auburn Hills, United States- BorgWarner Inc., announced today a significant strategic partnership with FinDreams Battery, a subsidiary of BYD Company Limited. Under this agreement, BorgWarner secures exclusive rights as the sole non-OEM localized manufacturer, unaffiliated with FinDreams Battery, to produce LFP battery packs for commercial vehicles. This collaboration covers Europe, the Americas, and selected regions in the Asia Pacific for 8 years.
In addition to gaining access to FinDreams Battery's advanced blade cells for manufacturing LFP battery packs in the designated territories, BorgWarner will also be granted a license to utilize FinDreams Battery's intellectual property concerning battery pack design and manufacturing processes.
Frédéric Lissalde, President and CEO of BorgWarner, expressed enthusiasm about the partnership, stating, "The emergence of lithium iron phosphate battery technology presents an exciting opportunity within the global market, given its cost-effectiveness. With growing demand from our clientele for LFP cell packs, we believe that partnering with FinDreams Battery is the ideal move for BorgWarner. With over two decades of expertise and proven success in LFP battery technology for the mobility sector in China and Europe, FinDreams Battery is a fitting collaborator. We look forward to jointly developing cutting-edge cell and battery pack technology to further drive the electrification of this market segment."
Micheal He, President and CEO of FinDreams Battery said that "Amidst complex geopolitical dynamics and the onset of lithium iron phosphate electrification for international commercial vehicles, our collaboration with BorgWarner for overseas localization of battery packs using FDB blade cells is strategically advantageous. By leveraging each other's strengths, we aim to offer diverse and adaptable solutions for international customers while facilitating access to localized battery packs utilizing FDB blade cells. Committed to our vision of 'letting people use batteries carefree,' FDB is dedicated to working alongside BorgWarner to accelerate the electrification of the global commercial vehicle market."
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