BMW to test ONE's advanced battery in its iX electric SUV
Reuters
Published Jun 14, 2022 05:07
By Paul Lienert
DETROIT (Reuters) - BMW will install and test a long-range battery developed by Michigan-based startup Our Next Energy (ONE) in the German automaker's iX electric SUV, the companies said on Tuesday.
ONE's Gemini battery will incorporate two types of battery cells, including one with advanced chemistry that can store more energy and enable vehicle range of 600 miles (965 km) or more between charges, the battery maker said. The prototype vehicle is expected to be completed by year-end, ONE said.
The Gemini battery aims to reduce the use of such traditional EV battery materials as cobalt, nickel, graphite and lithium, according to Mujeeb Ijaz, ONE founder and chief executive.
Ijaz said ONE is testing different electrode chemistries in Gemini, while evaluating the potential tradeoffs in cost, energy and sustainability.
ONE might offer a production version of the battery in three different sizes and prices, Ijaz said, including a low-end version that would cost the same as today's conventional nickel- and cobalt-based batteries, "if not a little lower."
Ijaz said ONE is discussing similar prototype testing of its Gemini battery with other companies.
In March, BMW's corporate venture arm led a $65 million funding round in ONE. Other investors in that round included Coatue Management, Breakthrough Energy Ventures, Assembly Ventures, Flex and Volta Energy Technologies.
In December, ONE said an early prototype of the Gemini battery, retrofitted in a Tesla Model S sedan, delivered more than 750 miles (1,200 km) of range, well in excess of the best production electric vehicles on the market.
Since its founding in 2020, ONE has focused development on a long-range battery that uses safer and more sustainable materials, while packing more energy into a smaller, less expensive package.
In a statement, BMW executive Juergen Hildinger said the automaker is exploring opportunities "to integrate ONE's battery technologies into models of our future BEV (battery electric vehicle) product lineup."
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.