Hyperdrive Innovation Enters Strategic Partnership with Foxlink to Expand into the Asia Market
Posted on the 5 April 2018
Hyperdrive Innovation, the Sunderland, UK-based developer and manufacturer of lithium-ion battery technology for electric vehicles and energy storage systems today signed a long term agreement with Foxlink Automotive Technology who will manufacture, sell and distribute its modular battery pack under Hyperdrive’s intellectual property rights across Asia. Foxlink Group is one of the world’s biggest manufacturers with revenues of almost US$3 billion in 2016 and 63,000 employees as at the end of 2017.
Having already secured a global supply agreement to incorporate Nissan’s leading lithium-ion cells into its high-performance battery systems, the Foxlink partnership is a further boost to Hyperdrive’s growth plans with turnover already expected to double this year as a result of a growing customer base in off-highway vehicles, autonomous and industrial machines, and stationary energy storage.
Hyperdrive’s compact modular battery pack is market leading in terms of energy density and is readily available as a standard product, with integrated Battery Management providing flexibility to scale up systems for different applications. It enables manufacturers to make a swift transition to vehicle electrification and clean energy storage, avoiding the need for bespoke battery development and the significant investment and time this would entail.
The Foxlink partnership gives Hyperdrive a strategic presence outside of Europe for the first time and opens up the Asian market for its world-leading technology. Based in Taipei, Taiwan, Foxlink produces connectors, cable assemblies, power management devices and battery packs for some of the world’s leading makers of communications devices, computers and consumer electronics.
As part of the agreement, Foxlink will set up a new manufacturing facility in Taiwan to replicate Hyperdrive’s existing facility in the UK. Foxlink will manufacture and distribute large volumes of its packs across the whole of Asia under the Hyperdrive brand.
Chris Pennison, CEO of Hyperdrive Innovation, says: “The agreement with Foxlink is a major development for Hyperdrive and means our world-leading technology can now be delivered globally. The support of such a major partner is a terrific endorsement of the quality of our technology. The agreement will give us a strategic foothold in Asia, one of the world’s fastest-growing regions and transform awareness of Hyperdrive. As well as being great news for us, it also shows the strength of the North East of England as a world-leader in battery technology.”
Mr Lingo Lin, General Manager of Foxlink Automotive, says: It’s our honour to be a business partner of Hyperdrive Innovation who has rich experience and high technology in the field. We will go to market with Hyperdrive to grow and work to make society greener together.