Amprius Technologies, a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, has signed a non-binding Letter of Intent (LOI) with a Fortune Global 500 technology OEM to develop a high-energy SiCore cylindrical cell for Light Electric Vehicle (LEV) applications.

The LOI demonstrates both parties’ intention to enter into a commercial supply agreement that will cover the next 5 years.

The Fortune Global 500 technology company has a strong presence in the LEV industry and is looking to enhance its product offerings through this strategic partnership with Amprius. The potential future business associated with the non-binding LOI could provide Amprius with battery production orders exceeding 2 GWh over the proposed contract’s duration.

Under this LOI, Amprius will design and deliver high-energy density cylindrical cells based on Amprius’ SiCore anode chemistry with a 25% capacity improvement over the current industry standard. While the performance specifications are still being finalized, this development aims to substantially increase energy capacity, marking a significant milestone for both companies.

Amprius has secured more than 125 million SiCore cylindrical cell annual production capacity through contract manufacturing partnerships. Additional capacity will be available in 2025.

Amprius will begin shipping the first group of SiCore cylindrical cells designed for this application to the customer this year.

The LEV market is expected to grow rapidly, reaching an estimated $205.7 billion by 2032, with a compound annual growth rate (CAGR) of 9.74% from 2023 onward, according to a Providence Research Report. This growth will continue to drive increasing demand for high-performance batteries across the micro-mobility sector.