Gentherm says it has been awarded a further contract for its new battery thermal management system (BTM), a thermoelectric cooling system for batteries used in hybrid and electrified vehicles.
The five-year contract, awarded by an unnamed automotive partner, could potentially generate up to US$8m in annual revenue with the first shipments to begin for model year, 2018.
The BTM is a new product for Gentherm, which has a capability to provide cooling to various types of batteries including those used in hybrid and electrified vehicles.
“This second contract win expands our foothold in a new global market for Gentherm,” said a Gentherm statement.
“With significant BTM programmes from separate major automotive manufacturers, we are leveraging our thermal management technology in a large and important new product category.”
“We expect this to be a significant new growth opportunity for us.”
Gentherm previously announced in July last year, it had been awarded its first BTM contract by a major automotive manufacturer, which could generate up to US$25m in annual revenue.
