Hon Hai signs MOU with Canadian firm on EV battery development

Taiwan-based manufacturing giant Hon Hai Precision Industry Co. has signed a memorandum of understanding (MOU) with Canadian solid-state battery supplier Blue Solutions to develop solid-state batteries and build an electric vehicle (EV) battery ecosystem.

In a statement, iPhone assembler Hon Hai, also known as Foxconn on global markets, said its wholly-owned subsidiary SolidEdge Solution Inc. will work with Blue Solutions by integrating their expertise, technologies and resources to develop and produce batteries for two-wheeled vehicles.

According to Hon Hai, SolidEdge Solution specializes in material design in Taiwan for battery use. Hon Hai said the two partners have aimed to co-develop batteries using Blue Solutions’ exclusive solid-state cell technology.

Hon Hai said that the two companies will use Blue Solutions’ innovative Gen4 technology and SolidEdge Solution’s materials to equip two-wheeled vehicles and serve the target markets.

According to the terms of the agreement, variants of these battery systems may also be adapted for other electric vehicles in addition to two-wheeled ones. Hon Hai said the two partners have initially targeted the Indonesian market.

Citing an estimate made by McKinsey, Hon Hai said the global two-wheeled vehicle market will be worth about US$218 billion by 2029, with a compound annual growth rate expected to hit 8.7 percent, and the main growth momentum will come from electric motorcycles. Hon Hai said Indonesia has set an ultimate goal to boost the number of electric motorcycles to 13 million by 2030 from a fraction of what it is now.

Blue Solutions, a subsidiary of France-based Bolloré Group, is a global designer and manufacturer of solid-state batteries and has an extensive background in solid-state batteries with research going back to the 1980s, according to Hon Hai.

In addition, the Canadian company currently runs solid-state cell, module and pack production lines located both in France and in Canada, Hon Hai said.

So far, Bolloré group has already invested 3 billion euros (US$93.17 million) in Blue Solutions and its activities, with more than 1 million cells having shipped to the market, Hon Hai added.

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