US supercapacitor firm Maxwell Technologies is increasing its foothold in China’s motive industry after signing a definitive agreement with CRRC Qingdao Sifang Rolling Stock Research Institute (CRRC-SRI).
Under the terms of the agreement, manufacturing of the company’s ultracapacitor-based modules is set to begin in China during the second half of 2017.
Maxwell has licensed its module designs targeting the China bus market to CRRC-SRI, who will use 2.7V and 3V ultracapacitor cells in Chinese production lines to manufacture the modules.
The start of manufacturing coincides with the peak buying season for China’s new energy bus market sector.
Dr. Franz Fink, president and CEO of Maxwell Technologies, confirmed that by collaborating on localisation initiatives for ultracapacitor production greatly extended the company’s reach into the China bus market.
The latest agreement strengthens an already strong relationship between Maxwell and CRRC-SRI.