VARTA Wins First Automotive Manufacturer for New, High-Performance V4Drive Cell
VARTA ships its high-performance lithium-ion cell in the 21700 format to its first customer in the automotive sector.
VARTA AG is a global provider of battery systems and technologies. The company operates within two main business segments: "Lithium-Ion Solutions & Microbatteries" and "Household Batteries". The former segment delivers micro batteries, lithium-ion coin power, lithium-ion round cells, and handles the lithium-ion battery pack business. The Household Batteries segment includes the battery business for end customers. This encompasses portable power (power banks) and lights, accumulators, household batteries, chargers, and energy storage devices.
During the first quarter of this year, VARTA has seen an increase in revenue which it intends to use for investing in the lithium-ion business. Alongside recent announcements concerning the company’s increased profitability, it revealed that it had won its first customer in the automotive sector for its new lithium-ion round cells.
VARTA’s V4Drive cell. Image used courtesy of VARTA
The Lithium-ion Solutions & Microbatteries business segment grew in revenue by 2.7% compared to the previous year. Revenue in this segment rose from € 118.7 million to € 121.9 million in the 2021 financial year. The Household Batteries segment saw an increase in sales of from € 79.7 million to € 82.4 million in the 2021 financial year, which corresponds to a growth rate of 3.4% compared to the previous year. Looking ahead, VARTA believes that positive business development will grow exponentially with new customer projects already lined up and orders coming in within the CoinPower area. Additionally, to meet market demand, construction of the pilot line for the new lithium-ion round cells in the 21700 format will be going ahead as planned. The cells will be produced at the group's headquarters in Ellwangen (Baden-Württemberg) and pilot production is expected to start at the end of the year.
Image used courtesy of VARTA
In a recent news release, CEO of VARTA, Herbert Schein, commented: "VARTA has further increased its profitability. We are optimistic about the second half of the year.” Schein added: "All segments continue to contribute to the growth of our company and were able to further increase the good results. The properties of our new lithium-ion round cells are met with great interest from customers. We are thus opening new and larger areas of business. In the meantime, we have also been able to win our first customer for our V4Drive in the automotive sector. VARTA remains successful with its innovation strategy."
The New V4Drive Cell
The power version of VARTA’s new V4Drive cell can be fully charged in 6 minutes. The “V” in the product name stands for speed, speed for driving, or speed for the drive. The V4Drive has been designed to absorb break energy much faster and more efficiently than other cells on the market. Customers can use the battery as a booster fr acceleration. The battery takes on a cylindrical form which provides engineers with greater design flexibility concerning shaping and housing the battery. The new cell opens up new business models, which are expected to grow, and will serve to expand VARTA’s product portfolio as a result. In terms of resiliency, the battery can withstand a temperature of -25oC.
Fields of applications for the V4Drive cells include industrial, home and garden, as well as automotive. The cells could be used in hybrid drive concepts and for electric aircraft in the future. Overall, the batteries have been designed to incorporate fast-charging, high energy density, cycle stability and low-temperature behavior, and a compact design.
To find out more about VARTA’s V4Drive cell technology, you can visit this page.