Morlus Technology and Elinor Batteries have signed a partnership agreement that marks a significant development in battery manufacturing for the Nordic region. The collaboration aims to accelerate the establishment of Elinor’s battery manufacturing facility in Orkland, Norway.
The partnership provides Elinor with access to Morlus Technology’s advanced battery expertise and factory construction knowledge. Elinor expects that this collaboration will enable it to introduce batteries for commercial sale in the European market by spring 2025.
Arne Fredrik Lånke, CEO of Elinor Batteries, said that this level of expertise is not currently available in Europe and is essential for the development of a battery value chain in the Nordic region.
Morlus Technology, founded by Shen Xi, brings more than 20 years of experience in battery industry innovation. Shen’s background includes leadership roles in battery design and factory construction at BYD, a prominent electric vehicle and battery manufacturer.
The agreement between the two companies covers product development, manufacturing and factory construction. Elinor Batteries intends to begin product orders in the fall, with both companies aiming to establish a leading position in the European market.
The partnership is expected to accelerate plans for a gigafactory in Orkland, with an investment decision expected in 2025. Lars Helge Helvig, owner of Valinor, Elinor’s majority shareholder, sees this as a strategic opportunity to invest in Norwegian battery production, citing market growth and Europe’s efforts towards battery self-sufficiency.
For Morlus, the cooperation represents an opportunity for global expansion. Shen Xi cited Norway’s high use of renewable energy and strong industrial base as key factors in the production of environmentally sustainable batteries.
Source: BusinessWire
