UltraCharge to power ‘enhanced’ three-wheel electric scooter for US, European and Chinese markets

UltraCharge ASX UTR lithium-ion batteries Roadix electric scooter
UltraCharge’s lithium-ion battery will deliver Roadix’s three-wheel scooters more torque and horsepower, and increase their range to 40 kilometres.

Battery technology developer UltraCharge (ASX: UTR) has unveiled a deal with Israeli company Roadix Urban Transportation Ltd, that will see the company powering three-wheel electric scooters, currently being readied for sale across the US, Europe and China.

Under the deal, Ultracharge will design, develop and manufacture a lithium-ion “pouch-cell” battery that will be fully compatible with Roadix’s three-wheel electric scooter.

According to Roadix CEO Amir Zaid, the deal supports the company’s vision to become a “leading global brand in the premium scooter market” via its “enhanced” scooter range to be powered by UltraCharge over the next three years.

UltraCharge claims that its lithium-ion batteries will deliver Roadix scooters with “more torque, higher power and increase their range to 40 kilometres,” considered to be a significant achievement for a vehicle of this type.

Powering urban vehicles

The agreed deal marks a significant milestone for the battery technology company given that Roadix is currently developing the MUV-e, colloquially known as ‘My Urban Vehicle – a lightweight electric scooter that is being marketed in the highest growth markets for electric vehicles, namely the US and China.

Under the terms of the deal, Roadix will assist UltraCharge in the commissioning and testing of its proprietary batteries and it has been agreed that UltraCharge will retain all intellectual property rights.

The deal includes a series of milestones including the passing of necessary testing phases ranging from laboratory tests, through to modular design verification and fleet testing to ensure homogeneity and consistency.

Both parties have agreed to provisional delivery schedules and unit sales although both have reserved the right to terminate the deal in the unlikely event that either party breaches agreed terms.

UltraCharge has been tasked with delivering 2,000 units in the first year, 4,500 units in year two and 10,000 batteries in the third year, which makes up a total of 16,500 batteries to be supplied to Roadix over the next three years.

“This contract with Roadix is another significant milestone for our cobalt-free, high voltage, lithium-ion battery solution and clearly demonstrates UltraCharge’s ability to customise solutions for specific end-user requirements,” said Kobi Ben-Shabat, CEO of UltraCharge.

“The Roadix contract is further third-party validation of UltraCharge’s lithium-ion battery solution and comes just six months after our signing of a similar supply deal with Blitz Electric Motors.

“With two supply contracts now in place we look forward to strengthening our position as the market leaders in the lithium-ion battery market,” said Mr Ben-Shabat.

Supplying Roadix with lithium-ion batteries within the retail consumer market follows-up UltraCharge’s commercial progress in the public sector.

In June this year, UltraCharge agreed on a provisional deal to manufacture, market, distribute and sell high voltage lithium-ion battery pouch cells in Indonesia, with PT Garda Persada, a current supplier to the Indonesian armed forces.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.