Sunderland firm boosted by £40 million Asian deal

Posted on 21 Apr 2018 and read 645 times
Sunderland firm boosted by £40 million Asian dealSunderland-based Hyperdrive Innovation, a developer of lithium-ion battery technology for electric vehicles and energy storage systems, has signed a long-term agreement with Taiwan-based Foxlink Automotive Technology, which will manufacture and distribute its modular battery pack in Asia (www.hyperdriveinnovation.com).

Foxlink is one of the world’s largest manufacturers, with revenues of almost $3 billion in 2016 and 63,000 employees.

Hyperdrive has already secured a global agreement to incorporate Nissan’s leading lithium-ion cells into its high-performance battery systems, and the company expects its turnover to double this year, as a result of growing demand for its technology for off-highway vehicles, autonomous and industrial machines and stationary energy storage systems.

Its compact modular battery pack is a market-leader in terms of energy density and is readily available as a standard product, with integrated battery management providing the flexibility to scale up systems for different applications.

It enables manufacturers to make a swift transition to vehicle electrification and clean energy storage.
The Foxlink partnership gives Hyperdrive a strategic presence outside Europe for the first time.

Foxlink makes connectors, cable assemblies, power management devices and battery packs for some of the world’s leading manufacturers of communication devices, computers and consumer electronics.

As part of the agreement, Foxlink will set up a new manufacturing facility in Taiwan to replicate Hyperdrive’s existing facility in the UK. It will manufacture large volumes of the battery packs and distribute them across the whole of Asia under the Hyperdrive brand.

Hyperdrive CEO Chris Pennison said: “The agreement with Foxlink means that our world-leading technology can be delivered globally. The support of such a major partner is a terrific endorsement of the quality of our technology.
It will give us a strategic foothold in Asia and transform awareness of Hyperdrive.”

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