AKASOL expands framework agreement with Volvo
German company AKASOL AG is expanding its long-term framework agreement to supply Volvo with high-performance battery systems for electric buses and trucks. By the end of 2023, the Darmstadt-based company will supply second-generation lithium-ion battery systems from the Langen facility as well as from the planned new facility in the U.S.
From 2020, the customer will receive the second generation of high-performance battery systems for its buses and trucks. These systems reportedly achieve 30% more energy density and thus more range with the same weight and installation space. In addition, the battery systems are capable of fast-charging.
"With the continuous improvement of our battery systems, we are gradually expanding the possible applications for electric buses and commercial vehicles. Short- and medium-haul trucks are now being added to the electric city bus at an impressive pace, as the follow-up order from Sweden underscores. We are proud that we can continue to be trusted by our customers and thus continue to grow dynamically," commented Sven Schulz, CEO of AKASOL AG. "Another positive effect of the cooperation is the massive reduction of CO2 emissions through the electrification of thousands of commercial vehicles and buses. This order alone can reduce CO2 emissions by 50%, or around 300,000 t per year based on the current electricity mix. The air quality in the cities using these electric vehicles will improve noticeably.”
Carsten Bovenschen, CFO of AKASOL AG, said, "The signing of the expanded framework agreement with our long-standing customer is a major milestone for our company. Through the new contract, we have aligned further cooperation in a sustained manner over the long term. The order volume supports the planned growth and safeguards our order backlog at a high level. For this reason, we have partially brought forward planned investments in organization, infrastructure, and production capacities in order to realize our sustainable expansion and the ramp-up of series production in our semi-automated production facility in Langen near Frankfurt/Main."