Amprius, a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, has announced the receipt of two contracts to supply 40 Ah high-performance cells for Light Electric Vehicle (LEV) applications. These contracts, valued at over $20 million, underscore Amprius’ capability to rapidly move customers through the commercial validation process, secure volume purchase agreements, and deliver large quantities of cells. Amprius is expected to start shipping these cells in 2024, with all associated revenue recognized by mid-2025.
The company’s 40 Ah high-performance cells were selected due to their superior energy density, safety features, and competitive pricing. These larger format cells are specifically designed for LEV applications, further establishing Amprius as a key player in the industry, as more customers are drawn to its cutting-edge battery performance.
“This latest customer commitment follows our recent Letter of Intent (LOI) for 2 GWh with a Fortune 500 company. The demand for Amprius’ battery performance enables us to accelerate the commercial validation process and meet the growing needs of our expanding sales pipeline,” said Dr. Kang Sun, CEO of Amprius Technologies. “With over 500 MWh of available capacity, we are well-positioned to quickly meet increasing demand for high-performance silicon anode batteries in both light electric vehicles and aviation. This is only the beginning of what we expect will be significant business growth, with more purchase orders on the horizon to support the expanding electric mobility sector.”
In June, Amprius partnered with several contract manufacturers across Asia, enabling it to meet rising customer demand with immediate scale-up flexibility without additional capital expenditures. Using this capacity, Amprius is committed to advancing its commercial engagements across the electric mobility sector. In the first half of 2024 alone, the company shipped batteries to over 130 customers, with 100 of those being new clients. Additionally, Amprius continues to ramp up production at its Fremont, California facility to 2 MWh and finalize plans for its gigawatt-hour scale factory in Brighton, Colorado.
As the demand for energy and power solutions in the LEV market continues to rise, Amprius is closely working with industry leaders. The company recently signed an LOI with a Fortune Global 500 leader in LEVs earlier this September.
According to a Providence Research Report, the LEV market is projected to grow rapidly, reaching an estimated $205.7 billion by 2032, with a compound annual growth rate (CAGR) of 9.74% from 2023 onward. This growth is expected to drive increasing demand for high-performance batteries across the micro-mobility sector.
