Airbus, Renault Join Forces To Advance Research On Battery Systems - Airbus (OTC:EADSY), Renault (OTC:RNLSY)

European plane maker Airbus SE EADSY has entered into a partnership with French carmaker Renault RNLSY to speed up their electrification roadmaps.
The partnership will help Airbus mature technologies associated with future hybrid-electric aircraft and will be detailed at the Airbus Summit taking place November 30 - December 1.
Airbus' and Renault's engineering teams will join forces to mature technologies related to energy storage, one of the important parts for developing long-range electric vehicles.
The cooperation agreement will cover technology bricks related to energy management optimization and battery weight improvement.
The parties will develop pathways to move from current cell chemistries (advanced lithium-ion) to all solid-state designs, capable of doubling the energy density of batteries in the 2030 timeframe.
"For the first time, two European leaders from different industries are sharing engineering knowledge to shape the future of hybrid-electric aircraft," said Gilles Le Borgne, EVP, Engineering, Renault Group.
Price Action: EADSY shares closed higher by 2.32% at $28.24 on Tuesday.
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