InoBat Auto & Ideanomics plan to build R&D, battery production facilities

InoBat Auto, in cooperation with Ideanomics, plans to embark upon a phased investment project based in Indiana, in three stages. First, the companies open a new R&D and production facility for battery module and pack assembly with an initial annual production capacity of 100 MWh. Both parties then aim to construct a full commercial-scale battery module and pack assembly plant with an initial 2-3 GWh yearly production capacity.

The first two phases would be supplied by cells from InoBat Auto’s European facilities. Depending on sufficient and bankable offtake agreements, InoBat Auto is also exploring the option to construct a tailor-made battery cell production facility with an initial 4 GWh annual capacity.

InoBat Auto and Ideanomics say they are expanding the strategic partnership established in January 2022 to develop, produce, and distribute integrated battery pack solutions for the U.S. market. InoBat Auto’s first-generation NMC 622 pouch cell achieved 25% quicker charging from 5-80% capacity, 20% extra cycle life, 6% higher capacity, 28% better capacity retention at -4°F than the benchmark pouch cells from a globally present East Asian battery manufacturer.

Canoo revealed that the U.S. Department of Commerce has approved its Oklahoma City facility as a Foreign Trade Zone (FTZ). The company said this will accelerate its made-in-America EV manufacturing strategy, improve unit profitability and enable a faster path to break even.

Canoo said its Oklahoma City facility currently employs more than 100 workers and will support as many as 1,100 manufacturing jobs at full capacity. The company said this FTZ designation allows for the elimination of all customs duties on vehicles sold to customers overseas and for the deferral of customs duties on imported parts used in vehicles sold domestically. The company added it sources more than 90% of its parts from the U.S. and allied nations. Approximately 70% of parts come from North America, and the remaining are from the rest of the world.