EV battery pack developer Ionetic opens UK pilot production plant
LONDON, Feb 18 (Reuters) - British startup Ionetic, which develops electric vehicle battery packs for low-volume automakers, has launched production at a UK pilot plant as it scales up for projects with manufacturers, the company said on Tuesday.
The company's 5 million pound ($6.3 million) plant in Brackley, Northamptonshire comes as Ionetic is working on EV battery packs for a number of British and U.S. automakers, CEO James Eaton told Reuters.
Major global automakers have committed to investing hundreds of billions of dollars to develop EVs, the most complex and expensive parts of which are the battery pack and software system to run it.
Ionetic is targeting lower-volume manufacturers making everything from buses to commercial vehicles, sports cars, off-road vehicles and even golf carts or beach buggies that would struggle with the expense of developing EVs.
"The really big players can throw hundreds of millions or even billions at electrification," Eaton said. "But around 90% to 95% of manufacturers are small and don't have hundreds of millions of pounds to go electric."
He said that while an automaker could expect to spend upwards of 30 million pounds on an in-house EV battery pack, in general Ionetic can develop one for customers for under a million pounds.
"We want customers to spend as little as possible to get to production with a great battery pack," Eaton added.
Low-volume automakers could opt for generic existing off-the-shelf battery pack technology, but could end up with a product that does not meet their needs for range, power and performance, Eaton said.
The startup has an ongoing research and development project with bus maker Alexander Dennis, a unit of Canada's NFI Group (NFI.TO), opens new tab, but Eaton said he could not yet disclose which other automakers the company is working with.
Ionetic has partnered with industrial automation firm Rockwell Automation (ROK.N), opens new tab to provide hardware and software for its pilot plant. Rockwell has provided digital twin software to Ionetic to test packs virtually before it invests in production, Eaton said.
($1 = 0.7942 pounds)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mirror
44 minutes ago
- Daily Mirror
High street chains closing stores in June including Trespass, Iceland, and Game
The British high street has suffered over the last few years. Reduced footfall and higher costs have forced many retailers to tighten their belts and close some of their brick-and-mortar sites Five major retailers will be closing sites this month - with some set to shut more than one. The British high street has suffered over the last few years. Reduced footfall and higher costs have forced many retailers to tighten their belts and close some of their brick-and-mortar sites. However, it is always important to note that some retailers close sites for other business reasons and not because they are struggling financially. Some close because the tenancy has come to an end on the site, or that the branch is not as profitable as others. According to recent data from the Centre for Retail Research, around 13,479 high street stores closed for good last year, a 28% increase from the previous year. It estimates that around 17,350 stores will close this year as businesses face higher National Insurance Contributions (NICs) and increases in th e national minimum wage from April. Sadly, the closures are coming earlier, with a handful of popular high street chains closing sites this month. Here we have listed all of the retailers with sites pulling down shutters over June. Trespass Trespass will be closing one of its high street stores at the end of next month. However, shoppers don't need to be disapointed as the closure comes as the site is set for refurb. Trespass is known for selling sports clothing, camping gear and outdoor accessories. The retailer's store in Abergavenny - based on Cibi Walk - is set to close on June 30, with signs having been placed in the window saying "all stock must go". The refit is expected to be conducted over the summer, however a new opening date has yet to be confirmed by the retailer. According to its website, Trespass has around 300 stores worldwide, with the majority of those stores based in the UK. Game Game is closing its Trafford Centre store in Manchester this month. However once again shoppers do not need to be disapointed as the closure comes as a new Game store has opened nearby. The gaming retailer - which is on the mall's Lower Peel Avenue - has put up signs telling shoppers the store is closing down and "all stock must go". The reason for the move is because a new Sports Direct store has just opened across the bridge at Trafford Palazzo, and just like the Manchester Arndale store, it's also got a Game store included. The exact date for the closure has not been confirmed however, it will be closing at some point this month. A spokesperson for The Trafford Centre said: "Game has relocated to the new Sports Direct store at Trafford Palazzo, and we wish them well in their new home. We're always working hard to bring new and exciting brands to Trafford Centre, offering our visitors the best possible experience. "We're currently in discussion with a number of retailers and will be in a position to announce which brand will be going in the former Game store in due course." Iceland Iceland will be closing its supermarket store in Margate on June 21. The frozen food retailer - which has around 900 stores across the UK - has been in the site in College Square for the last decade. The reason for the closure has not been confirmed, however, Iceland has said that staff working at the store have been offered jobs in other areas of the business. On the closure, a spokesperson said: "We can confirm our Margate Iceland store will close. Our store colleagues have entered into a consultation process and have been offered opportunities at surrounding stores where possible." Original Factory shop The Original Factory Shop has been struggling in recent years and has said it will have to close some of its loss-making stores as part of a restructuring plan. The next two locations to close will be the retailer's branches in Pershore and Normanton. Both will be closing on June 28. The Normanton store said in a Facebook post: "We as a store regret to inform you all that the store is closing down on 28 June. Live from today we have up to 30% off in store." The Pershore store also announced its closure in a Facebook post, saying: "We regret to inform you that the rumours are true. The Original Factory Shop Pershore has served you for 30+ years and will be closing its doors for the final time on 28 June." It has also been reported that the retailer's Peterhead store is also due to close in June, although no exact date has been given. The location has been listed for rent and staff have confirmed its upcoming closure. Holland and Barrett The Holland and Barrett store in Inverness is set to close this month. Signs have been put up in the store saying: "'We're sorry this store is closing soon but you can still shop at Holland and Barrett sells a range of vitamins, supplements, sports nutrition, beauty, gluten free and vegan foods. According to local reports, the store - which is located at 34 Eastgate - is set to close as the lease is coming to an end. However this has not been officially confirmed by the health retailer. The official date of the stores closure has also not been confirmed, however locals believe it will be this month due to the "closing soon" signs in-store.
Reuters
4 hours ago
- Reuters
Trump says Pakistani representatives coming to US next week for trade talks
WASHINGTON, May 30 (Reuters) - U.S. President Donald Trump said on Friday representatives from Pakistan are coming to the United States next week as the South Asian country seeks to make a deal on tariffs. Pakistan faces a potential 29% tariff on its exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Trump said he would have no interest in making a deal with the South Asian country or its neighbor, India, if they were to engage in war with each other. The two nuclear-armed rivals used fighter jets, missiles, drones and artillery in four days of clashes this month, their worst fighting in decades. "As you know, we're very close making a deal with India," Trump told reporters at Joint Base Andrews after departing Air Force One. Indian Trade Minister Piyush Goyal visited Washington recently to advance trade talks, with both sides aiming to sign an interim agreement by early July. India faces 26% tariffs on shipments to the U.S. Reuters reported last week that India is likely to allow U.S. firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.
South Wales Guardian
5 hours ago
- South Wales Guardian
‘No doubt' UK will spend 3% of GDP on defence by mid-2030s, Healey says
The Government has previously set out its 'ambition to reach 3% in the next parliament', after meeting its pledge to ratchet up defence spending to 2.5% of GDP by April 2027. But the Defence Secretary has promised a 'certain decade of rising defence spending', according to The Times, and said there was 'no doubt' the UK would meet its target. Mr Healey told the newspaper: 'It allows us to plan for the long term. It allows us to deal with the pressures.' The Government is looking at the roles, capabilities and reforms required by UK armed forces as part of its strategic defence review (SDR). It will explore 'deliverable and affordable' solutions 'within the resources available to defence within the trajectory of 2.5%'. When he announced the targets earlier this year, Prime Minister Sir Keir Starmer said: 'In an ever more dangerous world, increasing the resilience of our country so we can protect the British people, resist future shocks and bolster British interests, is vital.' The new defence money will be found by reducing UK overseas aid from 0.5% to 0.3% of GNI (gross national income), according to the Government, a move which prompted then-international development minister Anneliese Dodds to resign. 'You have maintained that you want to continue support for Gaza, Sudan and Ukraine; for vaccination; for climate; and for rules-based systems,' she told Sir Keir. 'Yet it will be impossible to maintain these priorities given the depth of the cut.' Nato heads of government are set to meet in The Hague, in the Netherlands, next month. Addressing the alliance's parliamentary assembly in Dayton, USA this month, Nato secretary-general Mark Rutte said: 'I assume that in The Hague we will agree on a high defence spend target of, in total, 5%.' A Ministry of Defence spokesperson said: 'This Government has announced the largest sustained increase to defence spending since the end of the Cold War – 2.5% by 2027 and 3% in the next parliament when fiscal and economic conditions allow, including an extra £5 billion this financial year. 'The SDR will rightly set the vision for how that uplift will be spent, including new capabilities to put us at the leading edge of innovation in Nato, investment in our people and making defence an engine for growth across the UK – making Britain more secure at home and strong abroad.'
