This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Categories
CTNS signs a US$9 million EV battery pack supply contract with Aptera
Read time: 2 minutes
This contract is the first phase of the total project, which is scheduled to complete the initial production volume by 2024.
CTNS, a secondary battery pack manufacturing company based in Changwon, South Korea, signed a contract to supply EV battery pack production facilities and initial production volume worth more than KRW12 billion with Aptera, a US electric car startup.
This contract is the first phase of the total project, which is scheduled to complete the initial production volume by 2024. CTNS aims not only to successfully complete the first phase of the project, but also to sign a mass production contract by 2025. If the company achieves this goal, the order is expected to reach US$100 million annually.
The contract signing ceremony was held at the CTNS Changwon headquarters on December 22, and the event was attended by key stakeholders, including CTNS representative Kwon Ki-jeong, Aptera representative Chris Anthony, and Lee Rae AMS Manager Yoon Jong-deuk.
The Gyeongnam Technopark Automotive Parts Innovation Center supported various EV test equipment inspections for this contract. In addition, Jeon Gipung, a member of the Gyeongnam Provincial Council, also visited the event and congratulated.
Aptera is a solar EV startup established in San Diego, California, USA in 2019. The solar electric car (SEV) developed by Aptera can travel up to 1,600km on a single charge, thanks to its ultra-lightweight frame, three-wheel design, and drag coefficient (Cd) of only 0.13. The ability to run an additional 40 miles a day with solar charging is also a strength of Aptera vehicles.
CTNS, established in June 2017, is a secondary battery technology innovation specialist company that provides a full-cycle solution for battery packs, from secondary battery pack design and manufacturing to management and remanufacturing.
It supplies secondary battery packs, BMS systems (Battery Management System, battery management system), and battery data monitoring solutions to various fields such as robots, EVs, ESSs, and AAMs. In 2023, it was selected as a small company by the Ministry of Employment and Labor, and in October, it won the Innovation Award at KES 2023.
A CTNS official said, “This supply contract is a meaningful first step for CTNS to enter the US market, and it is a case that proves the possibility of success in the global market. CTNS will grow into a secondary battery unicorn startup recognised in the global market based on its differentiated technology and business model.”