Funeng Technology is supported by US $4.1 million from the Advanced Battery Alliance of the United States.

On May 6th, Funeng Technology was supported by a US $4.1 million (26.65 million yuan) technology development contract supported by the Advanced Battery Alliance (United States Advanced Battery Consortium LLC, ("USABC"), which will be used for the low-cost fast-charging (Low-Cost, Fast-Charge,) battery technology project for electric vehicles.

It is understood that the goal of the project is to develop advanced positive and negative materials and electrolyte formulations, optimize battery design, and strive to develop low-cost fast-charging lithium-ion battery technology, with a view to promoting the rapid popularization of electric vehicles.

According to public data, USABC is a subsidiary of the American Automotive Research Council ((United States Council for Automotive Research LLC, referred to as "USCAR") and a partner of General Motors, Fiat Chrysler and Ford. Supported by a cooperation agreement with the U.S. Department of Energy ((DOE)), USABC's mission is to develop advanced electrochemical technologies to support the wide commercialization of new energy vehicle applications.

A few days ago, Funeng Technology said in its 2020 annual performance report that the company continues to cultivate the new energy vehicle soft package lithium-ion power battery industry, adhering to the technology development idea of "production generation, reserve generation, development generation". Lead the development of global power battery technology and maintain the leading level of technology in the world. Among them, the products developed in the key R & D directions, such as high energy density, long life, high rate and fast charging capacity, and high safety performance, have successfully entered the industrialization stage.

It is reported that Funeng Technology is currently able to mass-produce ternary soft package cells with energy density 285Wh/kg, which is in a leading position in the industry. Meanwhile, Funeng Technology recently revealed that the company's research and development team has developed and verified the next generation of electric vehicle batteries with an energy density of 330Wh/kg.

At present, Funeng Technology has made positive progress in the European market. On April 20th, Daimler-Benz EVA battery was mass-produced in Funeng Technology Zhenjiang factory, marking the mass production of Mercedes-Benz battery project of Mercedes-Benz supported by Funeng Technology. It also marks that the cooperation between the two sides has entered a new stage from research and development to large-scale supply. This year, Funeng will begin to export power batteries to European customers on a large scale, according to people familiar with the matter.

Funeng Technology obtains the financial support of USABC to develop low-cost fast charging technology, which is highly recognized by American industry institutions and enterprises, and at the same time, it may indicate that it will give a "green light" to the promotion and application of its technology and products in the North American market in the future.