Energy storage solution provider Maxwell Technologies (NASDAQ: MXWL) has announced an agreement with CRRC Qingdao Sifang Rolling Stock Research Institute (CRRC-SRI) to localize manufacturing of its ultracapacitor-based modules for use in the China new energy bus market.
Local production is expected to begin in China in the second half of 2017, coinciding with the peak buying season for e-buses.
To ensure Maxwell products are fully localized to conform with recent Chinese government requirements, Maxwell has licensed its module designs to CRRC-SRI, which will use Maxwell’s 2.7-volt and 3-volt ultracapacitor cells in local production lines to manufacture the modules.
“Collaborating on localization initiatives for ultracapacitor production greatly extends our reach into the China bus market while increasing the number of users that can benefit from next-generation energy storage solutions,” said Maxwell CEO Dr. Franz Fink. “The Maxwell and CRRC-SRI sales teams will collaborate to deliver existing and new customers the best experience possible, while our product development teams continue to work on next-generation, fully optimized solutions for this market.”
Source: Maxwell Technologies