{"id":26952,"date":"2019-06-26T12:46:57","date_gmt":"2019-06-26T10:46:57","guid":{"rendered":"https:\/\/wordpress-783423-2671269.cloudwaysapps.com\/?p=26952"},"modified":"2025-01-29T13:51:23","modified_gmt":"2025-01-29T12:51:23","slug":"june-26-2019-akasol-ag-akasol-enters-north-american-market-with-new-production-facility","status":"publish","type":"post","link":"https:\/\/www.cometis.de\/en\/june-26-2019-akasol-ag-akasol-enters-north-american-market-with-new-production-facility\/","title":{"rendered":"<span id=\"2019\" class=\"Postdate\">June 26, 2019<\/span> | AKASOL AG: AKASOL enters North American market with new production  facility"},"content":{"rendered":"<h1>Corporate news<\/h1>\n<p><a class=\"zur\u00fcckbutton\" href=\"https:\/\/cometis.de\/en\/publication-archive-akasol\">to the archive<\/a><\/p>\n<h1><strong>AKASOL enters North American market with new production facility<\/strong><\/h1>\n<ul>\n<li><strong>New production facility in metro Detroit area, Michigan<\/strong><\/li>\n<li><strong>Planned investment in the mid two-digit million Euro volume over a duration of 5 years<\/strong><\/li>\n<li><strong>Supported by a one-digit million Euro grant from the State of Michigan<\/strong><\/li>\n<li><strong>Planned opening for the US production facility in 2020<\/strong><\/li>\n<li><strong>New location supports dynamic expansion and meets growing demand from major international customers<\/strong><\/li>\n<\/ul>\n<p><strong>Darmstadt, June 26, 2019 \u2013 AKASOL AG (&#8220;AKASOL&#8221;; ISIN DE000A2JNWZ9), one of Europe\u2019s leading manufacturers of high-performance lithium-ion battery systems for commercial vehicles, has announced plans to open a production facility in the metro Detroit area of Michigan, USA. Opening dedicated operations in North America comes in response to specific demand for the company\u2019s high energy battery modules from major international manufacturers and will allow the company to pursue ambitious growth plans for the region.<\/strong><\/p>\n<p>The State of Michigan has given its full backing to AKASOL\u2019s plans, awarding the company a one-digit million Euro Michigan Business Development Program grant towards the construction of the production facility. It is expected that the new facility will generate total investment in the mid two-digit million Euro volume over a duration of 5 years and create over 200 jobs in that time. The location of the site will also ensure that AKASOL\u2019s customers comply with Buy America Act regulations, which dictate that they must purchase locally-produced battery systems.<\/p>\n<p>Commenting on AKASOL\u2019s decision to open a production facility in Detroit, Barry Matherly, President and CEO of the Detroit Regional Partnership said: \u201cThe Detroit Region is thrilled to have been selected by AKASOL for its first US battery production facility for the commercial vehicle market. The company is a global leader in the design and build of e-mobility solutions and our team is pleased we were able to demonstrate a highly compelling business case around the strengths of the region.\u201d<\/p>\n<p>AKASOL\u2019s new Michigan production facility will have a similar capacity to the company\u2019s current series production site in Langen, Germany. Initial production, which is due to begin in 2020, will focus on the 2nd\u00a0generation AKASystem OEM PRC battery system, with high energy density battery systems following soon after. By 2021, AKASOL expects production to have increased to 400 MWh in a three-shift operation.<\/p>\n<p>Sven Schulz, CEO of AKASOL, said: \u201cNot only will our new North American production facility enable us to meet the high demand we\u2019re receiving from our global customers, particularly a well-known Swedish manufacturer of trucks and buses, but it is also a core part of our international growth plans. Our unrivalled battery expertise from module to system level, coupled with the fact we are already undertaking series production for market-leading companies, means that we are well on the way to becoming the European market leader in commercial vehicle battery systems. Our new Michigan site will accelerate our business development activities with both new and existing North American customers.\u201d<\/p>\n<p>Roy Schulde, President of AKASOL\u2019s US subsidiary AKASOL INC., added: \u201cTwo thirds of the initial capacity of our new US production facility will cater for new customers, with the remaining third dedicated to our existing customers. The high-performance lithium-ion battery systems manufactured at the site will be developed, tested and produced by highly-qualified engineers and be used on projects across the transportation sector, which is seeing ever-increasing electrification solutions entering the market.\u201d<\/p>\n<p><strong>Contact:<\/strong><\/p>\n<p>AKASOL AG,<br \/>\nIsabel Heinen<br \/>\nPhone: +49 (0) 6103 48567-26<br \/>\nEmail: isabel.heinen@akasol.com<\/p>\n<p><strong>About AKASOL<\/strong><\/p>\n<p>AKASOL is a leading European manufacturer of high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, ships and boats. With almost 30 years of experience AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. AKASOL AG&#8217;s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.<\/p>\n<p>Based in Germany, AKASOL operates a production facility in Langen (Hesse) with an annual production capacity of up to 300 MWh, which will be expanded to 800 MWh by 2020. According to AKASOL, this is Europe&#8217;s largest lithium-ion battery system production plant for commercial vehicles, which can currently produce battery systems per year for up to 1,500 fully electric buses or for up to 3,000 medium-sized commercial vehicles, depending on battery size. AKASOL systems are manufactured according to the requirements of the industry standards of leading OEM customers. Current customers include Daimler, a Scandinavian bus and truck manufacturer, Alstom, Bombardier, Rolls-Royce Power Systems (MTU Friedrichshafen) and several more. AKASOL has a technology-independent product portfolio. This allows the company to use the best battery cells and battery chemistry according to the clients&#8217; individual needs.<\/p>\n<p><strong>DISCLAIMER<\/strong><\/p>\n<p>Statements contained herein may constitute &#8220;forward-looking statements.&#8221; Forward-looking statements are generally identifiable by the use of the words &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; &#8220;project,&#8221; &#8220;goal&#8221; or &#8220;target&#8221; or the negative of these words or other variations on these words or comparable terminology.<\/p>\n<p>Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Group&#8217;s or its industry&#8217;s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and the Group does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.<\/p>\n<p>This document does not constitute an offer or a recommendation to subscribe to or acquire securities of AKASOL AG. This announcement does not constitute an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America without registration or an exemption from registration in accordance with the current version of the U.S. Securities Act of 1933.<\/p>\n<div class=\"leseprobe-archiv\"><a title=\"Post as PDF\" href=\"https:\/\/cometis.de\/wp-content\/uploads\/2019\/06\/20190626_AKASOL_CN_USSiteSelection_EN_FINAL.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Post as PDF<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Corporate news to the archive AKASOL enters North American market with new production facility New production facility in metro Detroit area, Michigan Planned investment in the mid two-digit million Euro volume over a duration of 5 years Supported by a one-digit million Euro grant from the State of Michigan Planned opening for the US production [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":98872,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[232,90],"tags":[260],"class_list":["post-26952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akasol-corporate-news-en","category-news-en","tag-2019-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.4) - 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