MAXWELL TO LOCALIZE ULTRACAPACITOR MODULE PRODUCTION FOR CHINA BUS MARKET
Maxwell Technologies announced a definitive agreement with CRRC Qingdao Sifang Rolling Stock Research Institute Co. Ltd. (CRRC-SRI) to localize manufacturing of its ultracapacitor-based modules for use in the China new energy bus market.
Under the terms of the agreement, localized production of its ultracapacitor-based modules is expected to begin in China in the second half of 2017, coinciding with the peak buying season for China’s new energy bus market. The production of bus modules extends Maxwell’s strategic partnership with CRRC-SRI and will enable Maxwell to compete more effectively in the China bus market moving forward.
To ensure Maxwell products are fully localized in support of recent China government requirements, Maxwell has licensed its module designs targeting the China bus market to CRRC-SRI, which will exclusively use Maxwell’s 2.7-volt and 3-volt ultracapacitor cells in local production lines to manufacture the modules.
In addition, Maxwell will continue to leverage its long-standing expertise in the China bus market to jointly design additional, next-generation products, which CRRC-SRI will manufacture in the years to come.