ATS receives $119M in EV orders
by CM staff
The combined order bookings are valued at approximately US$119.9 million (or approximately C$163.1 million at current exchange rates) and are subject to customary conditions.
CAMBRIDGE — ATS Corporation’s Industrial Automation business received additional order bookings for automated battery assembly systems, as part of the planned capacity expansion in North America of an existing global automotive customer.
The combined order bookings are valued at approximately US$119.9 million (or approximately C$163.1 million at current exchange rates) and are subject to customary conditions.
These order bookings are part of a previously disclosed multi-phase enterprise program that includes the design, build, and installation of turnkey battery assembly systems. They will be recorded in the company’s fourth quarter of fiscal 2023 and are expected to be executed over the next 18-24 months.
“These order bookings showcase how ATS is able to offer solutions that navigate a changing environment while still offering leading solutions to our customers,” said Andrew Hider, CEO of ATS Corporation. “By forging close partnerships with our customers, and leveraging the knowledge of our team through the ATS Business Model, we continue to solve complex challenges and drive value to our stakeholders.”
