Slovakian battery company InoBat Auto and US electric vehicle specialist Ideanomics are planning a three-stage battery development and production project in the US state of Indiana.
The first stage provides for an R&D and production facility for modules and battery packs with an initial annual production capacity of 100 MWh. The second stage envisions a commercial-scale battery module and battery pack assembly plant with an initial annual production capacity of 2-3 GWh. The first two phases would be powered by cells from InoBat’s European factories.
The possibility of building a battery cell production plant in Indiana with an initial annual capacity of 4 GWh is also under consideration. The latter must be carried out “in accordance with future direct debit agreements”. In other words, if Ideanomics can better predict the evolution of its electric utility vehicle sales in North America, InoBat will be in a better position to assess if and when cell production in the United States will be profitable.
The two companies chose Indiana because of its “high concentration of OEMs, business terms suitable for industrial projects, and government support,” the statement said. The Indiana government pledged “administrative, advisory, tax, and site support” for the project. InoBat does not provide details on the financial scope of the support.
Instead, InoBat details battery technology: the company’s business model is to rapidly develop custom battery solutions for customers’ vehicles. This is currently done based on InoBat’s first generation of battery cells, an NCM622 pocket cell. Compared to a reference cell from Asia, it is said to be able to charge 5-80% 25% faster, have a 20% longer lifespan and offer better 28% capacity maintenance at -20 degrees Celsius. .
Ideanomics had already invested in InoBat earlier this year. “This partnership demonstrates our continued efforts to make the EV the natural successor to mobility,” Ideanomics CEO Alf Poor said of Indiana’s plans. “Our mission has been to accelerate the innovations needed to accelerate the adoption of electric vehicles. Our partnership with InoBat will secure future battery supply and create a force multiplier for technologies across our operating companies. It’s another reflection of our commitment to boosting cleantech job opportunities in the United States.