Monday, May 20, 2024

ONE and BMW Sign Agreement to Demonstrate iX with 600 Mile Range

ElectricONE and BMW Sign Agreement to Demonstrate iX with 600 Mile Range

Our Next Energy (ONE), the Michigan-based energy storage company, has signed an agreement with BMW Group to incorporate ONE’s Gemini™ Dual-Chemistry battery technology into the BMW iX all-electric Sports Activity Vehicle. ONE’s unique long-range Gemini technology reduces lithium use by 20% while reducing graphite use by 60% and minimizing the use of nickel and cobalt. In doing so, ONE is creating more sustainable energy storage technology that can significantly reduce environmental impact.

The prototype vehicle is expected to be completed by the end of the year. 

“We are thrilled to be working with BMW to demonstrate our Gemini long-range battery technology to consumers,” said Mujeeb Ijaz, founder and CEO of ONE. “As EV adoption grows, drivers are learning that real-world conditions can significantly reduce the performance of their batteries. Common situations like maintaining highway speeds, winter temperatures, climbing mountains, towing, or a combination of all four things present challenges to electric vehicles. We plan to pack twice as much energy into batteries, so EVs can easily handle long-distance driving in real-world conditions.”

“We are well-positioned to incorporate ONE’s IP into BMW’s SAV line,” said Jürgen Hildinger, BMW Group New Technologies Head of High Voltage Storage. “We are confident that given economic viability, this can lead to commercial opportunities and strategies to integrate ONE’s battery technologies into models of our future BEV product line-up.” 

BMW i Ventures, the Silicon Valley-based venture capital arm of the automaker, is an investor in ONE and has recently led a $65M funding round. “Our Next Energy is working to fundamentally reinvent the battery while focusing on sustainability, safety, and cost; three key factors which will help speed the development and adoption of battery electric vehicles,” said Baris Guzel, partner at BMW i Ventures.

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