Michigan-based startup Our Next Energy, better known as ONE, has announced that it will supply batteries to the Shyft Group for its Blue Arc electric commercial vehicles. The startup is slated to produce over 15,000 battery packs for Shyft’s Class 3, 4 and 5 trucks over the next five years. This is the latest in a series of EV supply deals that ONE has secured, including truck startup Bollinger Motors and commercial vehicle producer Motiv Power Systems.
ONE’s Aries Lithium Iron Phosphate Packs
ONE’s Aries lithium iron phosphate packs will be produced at a new plant in Van Buren Township, Michigan, in partnership with Piston Automotive, starting in late March. Shyft will receive Aries packs in two sizes: 62 and 79 kilowatt-hours. The Aries packs are known for their high energy density, long cycle life, and safety. They are also designed to be easily integrated into a variety of applications, making them a versatile choice for EV manufacturers.
Partnership with Shyft Group
The partnership with the Shyft Group marks a significant milestone for ONE. The Shyft Group, formerly known as Spartan Motors, is a leading provider of specialty vehicles and vehicle upfitting solutions. The company has a strong presence in the commercial and government fleet markets and has been expanding into the EV space. The Blue Arc electric commercial vehicles are part of the company’s efforts to develop sustainable transportation solutions for its customers.
Large-Scale Energy Storage at Industrial Site
In early March, ONE announced that its Aries packs would be used for large-scale energy storage at an industrial site in West Virginia being developed by Berkshire Hathaway’s BNE Renewables. This project highlights the versatility of ONE’s battery technology, which can be used in a variety of applications beyond electric vehicles. The Aries packs are well-suited for energy storage applications due to their high energy density and safety features.
Series B Funding Round
ONE’s recent success in securing EV supply deals is backed by a recent $300 million Series B funding round. The round put ONE’s valuation at $1.2 billion and attracted investment from BMW iVentures, Assembly Ventures, Breakthrough Energy Ventures, Volta Energy Technologies, Flex, Temasek, and Coatue. The funding will help ONE expand its production capacity and accelerate the development of its battery technology.
Michigan-based startup ONE has secured a partnership with the Shyft Group to supply batteries for its Blue Arc electric commercial vehicles. The partnership is part of ONE’s ongoing efforts to expand its reach in the EV market. ONE’s Aries lithium iron phosphate packs are known for their high energy density, long cycle life, and safety features. The startup recently raised $300 million in a Series B funding round, which will help it expand its production capacity and accelerate the development of its battery technology.