Chinese lithium-ion battery manufacturer Sinopoly Battery Limited has signed a Letter of Intent with Smith Electric Vehicles to supply batteries for 20 000 electric vehicles destined for China.
The deal will be worth US$100m for Sinopoly to manufacture batteries for Smith’s commercial electric vehicles. Smith is making 15 000 for mainland China and 5 000 for Taiwan.
Smith has successfully conducted initial technical tests on the Sinopoly batteries.
Smith Electric Vehicle is a US-based company with production facilities in the US and UK. Its current annual output is around 3000 EVs for fleet customers.
Sinopoly is an R&D focused manufacturer of lithium-ion batteries, primarily for electric vehicles, from its production bases in Jilin and Tianjin, which have a combined annual production capacity of 250m Ah.