Sunderland firm signs $40m Taipei deal

Sunderland firm signs £40m Taipei deal

A Sunderland-based engineering firm has developed battery technology that will be used in vehicles and factories worldwide, after a deal worth around £40m to expand into the Asian technology market.

Hyperdrive Innovation, has signed a deal to have its modular battery pack manufactured in Taiwan and sold on to companies making construction equipment and energy storage systems.

Foxlink, which already manufactures parts for Apple products, will set up a replica of the Hyperdrive Sunderland factory in Taipei to make around 20,000 battery packs every year under the Hyperdrive brand.

Hyperdrive managing director, Stephen Irish, says that the deal will open up routes to market among Asian manufacturers and fulfill demand from existing customers which have approached Hyperdrive directly.

He commented: “Our electric vehicle batteries are used in everything from a factory robot to a passenger car or a bus. We’ve been able to grow quickly, but the manufacturing partnership will provide a global reach.”