02/23/2021 09:00:00 CET, Reutlingen Automotive supplier TE Connectivity orders further equipment for automated assembly of cell contacting systems | Order volume in the lower double-digit million-euro range | Follow-up order confirms high customer confidence and momentum in the field of electromobility

Manz AG, a globally active high-tech engineering company with a comprehensive technology portfolio, has received a follow-up order from automotive supplier TE Connectivity with a total volume in the lower double-digit million-euro range. Manz has been working successfully with TE Connectivity for years in the field of manufacturing cell contacting systems and has already delivered several orders for fully integrated assembly lines. The order underscores the trusting cooperation with the customer on the one hand and the market dynamics in electromobility on the other. The order in the Electronics segment will impact sales and earnings in 2021.

Cell contacting systems are a central component of the e-power train of electric cars and plug-in hybrids: Depending on their size and capacity, several battery modules are integrated and interconnected in each battery-powered e-car. Each of these modules has its own cell contacting system that connects individual battery cells to form modules and handles current collection and various sensor functions for battery management, such as measuring temperature and voltage.

Martin Drasch, CEO of Manz AG, comments: "We are very pleased about the renewed order from TE Connectivity. The order underlines the very positive development in the field of electromobility, in which we have made targeted investments with our developments in recent years. However, we estimate that this market is only at the very beginning, and we want to and will continue to benefit from this trend with our Electronics and Energy Storage segments. Thanks to our decades of experience in assembly automation and battery production, we are very well positioned for further growth as the global mobility revolution continues to accelerate. The high pace at which production capacities are being expanded and our innovative solutions are in demand shows how dynamically this market is developing. The commitment of funding from the European Commission for the further development of Li-ion battery technology as part of the Important Projects of Common European Interest (IPCEI), which we received in January, will enable us to further develop our competencies in line with this dynamism and sustainably strengthen our focus on this growth market."

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