ONE to supply batteries for Shyft electric trucks

Shyft

09/03/2023 11:00

By Paul Lienert
       March 9 (Reuters) - Michigan-based startup Our Next
Energy, better known as ONE, said Thursday it will supply
batteries to Shyft Group  SHYF.O  for its Blue Arc electric
commercial vehicles.
    ONE is slated to provide more than 15,000 battery packs over
the next five years for Shyft’s Class 3, 4 and 5 trucks.
    ONE’s Aries lithium iron phosphate packs will be produced,
starting in late March, at a new plant in Van Buren Township,
Michigan, about 30 miles (48 km) southwest of Detroit. The plant
is being operated in partnership with Piston Automotive.
    Shyft will get Aries packs in two sizes: 62 and 79
kilowatt-hours.
    The agreement with Shyft is the latest in a series of EV
supply deals that include truck startup Bollinger Motors and
commercial vehicle producer Motiv Power Systems. 
    In early March, ONE also said its Aries packs would be used
for large-scale energy storage at an industrial site in West
Virginia being developed by Berkshire Hathaway’s  BRKa.N  BNE
Renewables.
    ONE in February said it had raised $300 million in a Series
B round that put its valuation at $1.2 billion. Investors
include BMW iVentures, Assembly Ventures, Breakthrough Energy
Ventures, Volta Energy Technologies, Flex, Temasek and Coatue. 

 (Reporting by Paul Lienert in Detroit; Editing by Lisa
Shumaker)
 ((Paul.Lienert@thomsonreuters.com; mobile +1 313-670-2452;))