Varta ships its first EV lithium ion cells

Varta ships its first EV lithium ion cells

Business news |
By Nick Flaherty

Varta in Germany has started shipping a high performance rechargeable lithium ion cell in the 21700 format to an automotive customer for electric vehicle designs.

Alongside the V4Drive cell, the company is also developing other, larger lithium-ion round cells in the future and building a pilot line for the new lithium-ion round cells at its Ellwangen site in Germany. Pilot production will start at the end of the year, and development of new lithium-ion round cells will open up further business areas.

Varta saw a modest increase in revenue of 2.9 percent to € 204.3 million compared to the same period of the previous year, with profits up 15 percent to € 59.9m.

“Varta has further increased its profitability. We are optimistic about the second half of the year,” said Herbert Schein, CEO of Varta AG. “All segments continue to contribute to the growth of our company and were able to further increase the good results. The properties of our new lithium-ion round cells are met with great interest from customers. We are thus opening new and larger areas of business. In the meantime, we have also been able to win our first customer for our V4Drive in the automotive sector.”

“In order to emphasize our focus on the successful business with our lithium-ion batteries, we have decided to rename our Microbatteries & Solutions segment to Lithium-Ion Solutions & Microbatteries,” said Schein.

Revenue in the Lithium-Ion Solutions & Microbatteries segment rose from € 118.7 million to € 121.9 million in the 2021 financial year, up 2.7 percent.

The Household Batteries segment comprises the consumer batteries business and energy storage systems where sales increased from € 79.7 million to € 82.4 million in 2021, up 3.4 percent. The energy storage systems business doubled.

Production at the company’s own locations has been running without interruptions since the beginning of the pandemic, and there have been no effects on the supply chains, says Schein.

Related Varta articles

Other articles on eeNews Europe

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles