Market's view on Mpac Group Plc
Published on April 2024
- Mpac Group plc announced a significant order totalling £1.2 million to deliver a pilot battery assembly line for solid-state batteries, in collaboration with Ilika plc, Agratas, and The UK Battery Industrialisation Centre. This project is supported by the Automotive Transformation Fund and aims to be operational by Q2 2025.
- The project aims to design and build a 1.5MWh solid state battery assembly line capable of producing large-format pouch cells for automotive OEMs and Tier 1 suppliers.
- Mpac’s involvement in this project is part of its strategy to expand its footprint in the clean energy sector, leveraging its assembly expertise across various market sectors.
- The UK Government’s Automotive Transformation Fund, supporting this project, plans to invest up to £850 million to develop a high-value electrified automotive supply chain as part of the UK’s 10-Point Plan for a green industrial revolution.