Manz AG: Order From German Battery Developer and Producer

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Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, has received an order from the German AKASOL AG for assembly lines to produce lithium-ion battery modules. The placing of the order with a total volume of up to 20 million euros has been split into several tranches: the order already placed with a volume of around 8 million euros comprises a module production line for the new Gigafactory 1 in Darmstadt, which is currently under construction, and will largely be reflected in sales and earnings in 2020. A second, identical module production line for the Gigafactory 2 at the US location of AKASOL AG was optionally agreed upon and will be confirmed by mid-year if the cooperation is successful. Final acceptance of the line for Gigafactory 1 will take place at the beginning of 2021, final acceptance for the optionally commissioned Gigafactory 2 is planned for the end of 2021.

AKASOL is a pioneer for battery systems in hybrid and fully electric commercial vehicles and is today one of the pacemakers in the field of highly efficient lithium-ion storage solutions. The modules produced on Manz's machines are to be used in commercial vehicles and buses from one of the world's largest commercial vehicle manufacturers, among others.

Martin Drasch, Manz AG's CEO, comments: "This new order is a good start to the year and underscores the increasing dynamics on the global market for powerful and efficient battery systems. As a high-tech mechanical engineering company with over 30 years of experience in this field, we want to benefit from this. The ongoing electrification of a wide range of industries offers us numerous opportunities for this.

Manz machines are already being used to produce battery cells as well as battery modules and systems for power tools, consumer electronics, and the automotive industry, for example. In addition, large vehicles such as trucks and buses will be added in the future. Martin Drasch: "We are very proud of the broad application spectrum of our production technology. We are thus able to address a growing range of customers as new sectors are increasingly electrified.