ENVISION AESC AND BMW GROUP ANNOUNCE NEW PARTNERSHIP IN BATTERY CELL PRODUCTION AND SUPPLY

ZAMA,Japan,Oct. 19,2022 -- Envision AESC,a world leading Japanese electric vehicle battery technology company,announces a new multi-year partnership with BMW Group to supply latest innovation battery cells for the global brand's next generation electric vehicles.

To support production,Envision AESC has committed to invest in a dedicated new 30GWh battery manufacturing plant in South Carolina,which will be powered by 100 per cent net zero carbon energy. Work is currently underway by the company to finalize a suitable site close to BMW Group's vehicle production and battery assembly facilities.

As part of the agreement,Envision AESC will supply technology-leading battery cells that result in 20 per cent more energy density,faster charging speeds and an extended range of up to 30 per cent for electric models produced in BMW Group's Spartanburg plant by 2030.

The new battery plant builds on an existing battery manufacture plant in Tennessee and a plant under construction in Kentucky,providing up to 70GWh capacity nationally and powering the US' move to electric vehicles. Envision AESC's growing footprint in the US continues to drive technology and innovation advancement,supply chain development of EV battery production and cost-competitiveness,making electric vehicles more affordable and accessible for a mainstream US market.

Shoichi Matsumoto,Chief Executive Officer of Envision AESC,said: "We are delighted to partner with BMW Group as part of the next stage of growth of our US business. Our new 30GWh battery plant in South Carolina will harness state-of-the-art technology to create denser,lighter and more powerful batteries that travel further,faster without the need to charge. As we embark on this next stage of our journey,we are as committed as ever to working with our customers and strategic partners to drive innovation and continually push the boundaries of performance,safety and efficiency."

"We are delighted to have found a partner in Envision AESC that will supply our plant in Spartanburg with high-performance battery cells going forward. The new round cell specially designed for the electric architecture of our next generation models will allow us to improve range,driving performance and reduce charging time," said Joachim Post,member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network. "At the same time,both our companies are firmly committed to sustainable,environmentally responsible action."

As part of the company's global commitment to sustainability,Envision AESC will leverage leading net-zero system solutions from across the business,including renewable energy generation,carbon reduction through AIoT energy management systems and battery recycling to accelerate carbon neutrality across the whole battery value chain.

Envision AESC is committed to sourcing critical battery components cobalt,lithium and nickel from certified mines,providing full transparency of extraction methods and ensuring responsible mining. The company increasingly relies on recycled materials,which will contribute to a reduction in CO2 emissions from cell production in the new plant.

Jeff Deaton,Managing Director of Envision AESC in the US,said: "This project represents a shared vision by Envision AESC and BMW Group to accelerate the global transition to carbon neutral transportation. Our planned new battery plant in South Carolina and supporting ecosystem will provide a catalyst for further investment in the local supply chain and whole life cycle opportunities of batteries,renewable energy systems and digital solutions to support the US' decarbonization,growth and renewal agenda. It will generate thousands of high value green jobs across the whole battery lifecycle,from storage and repurposing to smart charging and closed loop recycling. We are extremely excited to get started."

Since its launch in 2007,Envision AESC has invested heavily in technology R&D to support growth,establishing 12 manufacturing sites worldwide as the company advances its commitment to reach 300GWh globally by 2026. It continues to focus on future generation technology to drive innovation that delivers pioneering batteries with high performance,maximum efficiency and a 100% safety record to date.

About Envision AESC

Envision AESC is a global battery technology company headquartered in Zama,and committed to research,development,design,manufacturing and sales of power batteries for EVs and energy storage batteries. Envision AESC has 5,600 employees and 12manufacturingsitesinJapan,U.S.,U.K.,France,Spain andChina. In the past 12 years,Envision AESC has produced power batteries for more than 650,000 electric vehicles in 44 countries,achieving a record of 'zero critical battery malfunction'.

Its teams work to continuously improve the company's global leadership in product development,quality and sustainable processes. In June 2021,Envision AESC was again named 'Global Tier 1 Battery Companies' by Benchmark,a leading UK-based lithium-ion battery supply chain research organization. Visit https://www.envision-aesc.com/jp/