ATS receives US$81.3M worth of EV orders
by CM staff
The combined order bookings are valued at approximately C$110.5 million at current exchange rates.
CAMBRIDGE — ATS Corporation announced its Industrial Automation business has received order bookings for automated battery assembly systems, as part of the continued capacity expansion in North America of an existing global automotive customer.
“These bookings again demonstrate our ability to execute leading solutions in this dynamic space,” said Andrew Hider, CEO of ATS Corporation. “Through building strategic partnerships with our customers, and leveraging our ATS Business Model to continuously refine our offerings, we continue to navigate this evolving market while maintaining a steadfast focus on customer needs.”
The combined order bookings are valued at approximately US$81.3 million (or approximately C$110.5 million at current exchange rates) and are subject to customary conditions.
These order bookings include the design, build, and installation of turnkey battery assembly systems, and are part of a previously disclosed multi-phase enterprise program. They will be recorded in the company’s third quarter of fiscal 2023 and are expected to be executed over the next 18-24 months.
