Autocraft secures £24m to accelerate growth of battery repair business

Staff
By Staff
2 Min Read

Autocraft Solutions Group has secured £24 million through a financing package to help support the company’s ambitions to grow its electric vehicle battery repair solutions internationally.

The company’s EV Solutions division works with original equipment manufacturers (OEMs) to provide its Revive EV battery testing, repair and remanufacturing services.

Autocraft’s solution is able to identify and replace underperforming cells within an EV’s battery to help repair any EV battery failures, rather than triggering a premature recycle.

The business launched its first battery repair centre in Arnhem, Netherlands in 2023 and it is now planning to open new centres across Scandinavia, Southern Europe and North America. 

Each Revive facility will triage, repair and remanufacture EV battery packs, processing 1,400 EV batteries each year.

Autocraft said that by keeping existing batteries operational, each facility will save around 1,500 tonnes of CO2, six megawatt-hours of electricity, and two million litres of water per year, as a result of eliminating the need for OEMs to produce replacement battery packs.

Mike Hague-Morgan, executive director at Autocraft Solutions Group, said: “The number of EVs continues to rise, bringing with it increased demand for our world-class remanufacturing capabilities.

“We are on a mission to unlock the full environmental and performance potential of EVs and, with the financial backing of HSBC, we are now one step closer to making this a reality. 

“Importantly, the bank also shares our passion for green tech, making it the ideal partner to support our next phase of growth.”

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