Battery pack start-up IONETIC has appointed Dr. Andy Palmer as its new chair of the board.
The company said Palmer brings more than 44 years’ automotive experience. He was COO and Chief Planning Officer of Nissan Motor Corporation and President & CEO of Aston Martin Lagonda.
IONETIC is still planning the opening of its first giga-scale manufacturing facility in the UK. It was founded in January 2022.
At Nissan, Palmer oversaw the development and introduction of the world’s first mass-market EVs, the Nissan Leaf and Nissan e-NV200. He then led the launch of four core models and nine derivative vehicles as CEO of Aston Martin Lagonda.
Palmer said: “I have witnessed first-hand the need for more cost-effective battery pack solutions that can still meet the performance criteria of automotive OEMs, especially in lower volume. IONETIC is doing just this, and I have great belief that its offering will significantly reduce the challenge and headaches of electrification for OEMs.”
It claims its battery modules have an energy density of 226Wh/kg. A pack energy density of at least 180Wh/kg is targeted. Getting a 70kWh battery pack into production should cost £4-10 million ($5-12 million), it said, claiming a reduction from ordinarily costing £40-80 million ($50-99 million). This is due to its technology, capabilities, and production strategy.
Photo: Dr. Andy Palmer brings 44 years’ automotive experience to IONETIC.