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Protera at the LG Energy Solutions US Factory to ensure long-term supply of industry-leading commercial eV battery technology at a minimum of $ 9.
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The partnership represents a battery capacity of several GWhs each year and will increase the production capacity of the prototype for USMCA-compatible commercial EV battery systems.
Burlingham, California, August 11, 2021 (Globe Newsweire) – Protera Inc., a leading provider of commercial vehicle electrification technology, today announced the conclusion of negotiations with LG Energy Solutions in a new long-term deal. Supply of cylindrical cells produced by the LG Energy Solution battery cell manufacturing plant in the United States.
The US-made batteries are sent to Protera factories to manufacture the company’s industry-leading commercial electric vehicle battery systems. Protera is ahead of the agreement by a minimum of nine digits, according to the agreement, to maintain several gigabytes of battery capacity per year.
Under the new agreement, in addition to US-produced batteries for Protera, Protera and LL Energy Solutions have extended their existing battery cell supply agreement until 2024. Until 2028.
Both Protera and LL Energy Solutions have been approved by the Board of Directors and are scheduled to invest in No. 2021, respectively.
“As the leader of American technology, Protera is proud of its strong partnership with LG Energy Solution to bring battery cell production to the United States,” said Gareth Joyce, president of Protera Power and Energy. The technologies needed to fight the climate crisis and meet the global demand for zero emissions, battery-powered commercial vehicles must be built and built in the United States. To deliver the best performing commercial vehicles in the world. ”
He said the partnership between LG Energy Solution and Protera will already be a major milestone in the global eco-friendly commercial vehicle industry. IT battery compartment. “LGES will continue to expand our EV battery production capacity in the United States and strengthen the local supply chain to boost the clean energy industry in the United States.”
Since 2016, Protera and LG Energy Solutions engineering teams have been working together to increase cell performance to meet the strict requirements of commercial vehicle markets. Cylindrical cells manufactured at the new LG Energy Solution Factory will be suitable for new, advanced nickel NCMA chemistry for commercial vehicle and industrial applications. By introducing cylindrical cells produced in the United States, Protera battery systems further meet the content requirements under the United States-Mexico-Canada Agreement (USMCA).
Designed and manufactured in the United States, Protera battery systems are certified by over 20 million service miles driven by their transit customers and include delivery vehicles, construction equipment, school buses, coaching buses and more.
About Protera
NASDAQ: PTRA is a leader in the design and production of commercial applications for zero-emission electric vehicles and AV technology solutions. Based on strong American independent testing and industry-leading strength and energy efficiency, Protera products are proudly designed, manufactured and manufactured in the United States by offices in Silicon Valley, South Carolina and Los Angeles.
Future Statements
This press release It contains forward-looking statements in Section 27a of the 1933 Amendment Act and Section 21E of the 1934 Amendment Law. Future statements generally relate to the provision of cylindrical cells with LG Energy Solution and the expected benefits of this agreement. Future Statements Predictions, predictions, and other predictions are based on current expectations and assumptions and, as a result, are at high risk and uncertainty. The risks and uncertainties in the “Accident Causes” section of the Protherra forecast for July 9, 2021, may make material predictions of future events material in this forecast. The Securities and Exchange Commission (SEC) June 29, 2021, and Protora’s annual and quarterly reports and other documents submitted to the SEC. These presentations identify significant events and outcomes and other important risks and instances that may differ from the material in the material. The future statements in this press release are only valid from the date of issue. Readers are warned not to place unreasonable reliance on future statements, and Protera assumes no obligation and does not intend to update or revise these future statements with new information, upcoming events, or any other reason. There is no guarantee that Protera will meet expectations.
CONTACT: Investor Contact Proterra Investor Relations IR@proterra.com Media Contact Proterra Corporate Communications PR@proterra.com
