Ijaz’s reappointment coincides with the closing of ONE’s latest funding round, which was led by Crescent Ventures LLC.

Established last year, ‘Our Next Energy Korea Ltd’ was based out of an office in Hwaseong and employed less than ten people.

Although a specific volume has not been agreed, L&F could produce enough to meet ONE’s needs at its gigafactory in Van Buren Township, where cell output could reach up to 20 GWh in 2027.

Founder Mujeeb Ijaz steps down from his role as CEO to serve instead as Vice-Chairman of the board and Chief Technology Officer.

The pilot line is housed in a new facility, dubbed ‘ONE Circle’, which is intended to support up to 20 GWh of annual production capacity when ramped up.

With the Aries II, ONE has reportedly achieved energy densities of 263 Wh/L and 162 Wh/kg, representing respective improvements of 34% and 23% over the leading LFP benchmark.

Motiv Power Systems’ latest vehicles will be capable of achieving ranges up to 200 miles, even when fully laden with cargo or passengers, thanks to alterations made to powertrain components which the company developed together with its partners.

Our Next Energy will provide its linkable Aries LFP battery packs to power Bollinger’s all-electric commercial platforms and chassis cabs.

Motiv Power Systems has announced that its sixth-generation electric truck exceeded 150 miles on a single charge using two Aries LFP battery packs supplied by Our Next Energy during a field test.