Watchmaker Swatch do… batteries for electric cars

Just a few years ago, the largest watch manufacturer Swatch Group has been on the rise, reporting record sales. It would seem, once things are going well, then change something there is no need. However, last year and early this in an interview with the head of the company voiced their intention to develop a new direction of activity — production of batteries for electric vehicles, hoping to 2020 to bring their sales up to 10-15 billion dollars.

Investors plan seemed too expensive and unrealistic. Meanwhile, it is projected that this year revenue will be less than last year’s us $ 8.36 bn. At the same time growing inventory of products, so sooner or later would still have to think about further strategy. Meanwhile, the press Secretary of the Swatch Group announced that the company is always attentive to the costs and will not cut primary production.

The batteries in question, developed jointly by the specialists of the company Belenos Clean Power, in which Swatch owns a controlling stake, and Institute of technology ETH in Zurich. Technical details are still scarce, as they were not represented even prototypes. It is expected that these batteries, which use compound based on vanadium oxide, surpass Li-ion on energy density, lifetime, charging speed and safety.

The explosive increase in demand for batteries is expected because of the increasing popularity of electric vehicles. According to some estimates, in 2030, electric vehicles will account for two-thirds of vehicles on the streets of rich cities.

Source: Reuters

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