At the Hannover Messe conference on Monday, Luxembourg-based Freyr Battery and Siemens officially announced their alliance, designating Siemens as its preferred supplier for automation and digitalization technology.
Siemens technology will be used by Freyr to outfit its next gigafactories in Norway and the US, and the two businesses will collaborate throughout the whole battery design and manufacturing process, according to a statement from the companies.
"This relationship is much broader than the usual customer-supplier relationship and is strategic in nature," Freyr chief executive Tom Einar Jensen told Reuters.
He added: "With Siemens, we can ramp up production faster and better, and with a significantly lower reject rate. Freyr intends to do away with the customary 18 production phases in favour of eight. We want to finish it in no more than half the time that it typically takes, which is up to 36 months.
Europe's largest industrial manufacturing firm, Siemens is a German multinational conglomerate organisation. It has a number of overseas branch offices and a headquarters in Munich.
Digital Industries, Smart Infrastructure, Mobility, Healthcare (marketed as Siemens Healthineers), and Financial Services are the company's main divisions.The company is a well-known producer of diagnostic medical equipment, and its medical health care segment—which accounts for around 12% of the company's overall sales—is its second-most profitable business unit, behind the industrial automation sector. It is considered as a pioneer in this field and the organisation with the largest global revenue. A part of the Euro Stoxx 50 stock market index is the firm. According to its results statement, Siemens and its affiliates employ over 303,000 people worldwide and generated nearly €62 billion in revenue in 2021.
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