Ricardo & InoBat sign MoU for battery cooperation
UK engineering firm Ricardo has signed a memorandum of understanding with Slovakian battery company InoBat to jointly supply battery cells, modules and packs to high-performance automotive manufacturers for vehicle electrification programmes.
The gist of the Memorandum of Understanding is that Ricardo and InoBat will cooperate on the assembly, production and testing of cells, modules and full battery packs for a number of high-performance automotive applications. InoBat will manufacture, test and supply cells. Ricardo, on the other hand, will design, assemble and test the battery packs and will supply them to customers principally high-performance automotive OEMs, but also in other sectors such as aerospace and defence.
“Leveraging our proven track record in industrialising technology Ricardo is delighted to be working with InoBat to help establish a robust supply chain for critical electrification components,” said Martin Starkey, Managing Director Ricardo Performance Products, adding: “Ricardo’s future manufacturing strategy is very much aligned to this emerging need for electrified vehicle components for the high performance automotive vehicles and other equally demanding applications.”
InoBat just recently announced plans and a letter of intent to build a new battery factory in Serbia, which would solidify their European foothold on the battery supply market, coupled with the factory in Spain, announced in October. InoBat also has an eye on the US American battery market, likely also due to the availability of grants and subsidies under the new Inflation Reduction Act.
“Our complementary capabilities and approach to battery development and production will ensure that manufacturers have access to the components they need, when they need them, helping accelerate the move to green mobility,” said Iain Wight, Chief Commercial Officer of InoBat. “I am delighted that we are partnering with a company with a shared sustainability ethos and, through collaboration, InoBat and Ricardo can help pave the way to a greener future.”
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