- TI Fluid Systems is in a strong position to support North American customers in fulfilling the battery eligibility requirements of the Inflation Reduction Act (IRA)
- With 26 facilities in North America and a commitment to local supply, TI Fluid Systems is uniquely positioned to support its U.S customer base with battery and other BEV heating and cooling products
- The IRA was formally enacted on 18 April, and aims to encourage investment in domestic energy production and promote clean energy
AUBURN HILLS, MICHIGAN, USA (23 May 2023) — TI Fluid Systems (TIFS), a leading global supplier of automotive fluid systems technology, is well prepared to support its North American customers with Inflation Reduction Act (IRA) compliance.
Owing to its 26 facilities in North America and commitment to local supply as part of its Environmental, Social and Governance initiatives, TI Fluid Systems believes it is uniquely placed to deliver thermal management and fluid handling solutions for battery electric vehicles that contribute to North American OEM customers’ opportunity to comply with the IRA.
TI Fluid Systems is currently manufacturing fluid handling products for battery cooling for multiple major North American and Global OEM customers. In March 2023, the company further underscored its commitment to this market, announcing a significant investment to build its next e-Mobility Innovation Centre (eMIC) in Auburn Hills, Michigan.
Working in collaboration with U.S-based customers, TI Fluid Systems will design and develop the next generation of EV thermal products at the eMIC to support the automakers EV battery efficiency and boost IRA-compliant battery production.
Hans Dieltjens, President and CEO of TI Fluid Systems, said, “The Inflation Reduction Act is a piece of legislation tackling climate change and driving uptake of green energy in North America.
“At TI Fluid Systems, we too are committed to creating cleaner technologies for a greener automotive industry and a better world. Our strong R&D and manufacturing presence in North America, coupled with our prioritisation of local sustainability efforts, places us in a strong position to develop thermal technologies that will help our U.S customers meet the eligibility requirements of the IRA.”
The IRA was formally enacted on 16 August 2022, with the aim of accelerating investment in clean energy solutions and domestic manufacturing capacity in North America. The new battery component requirements of the IRA came into effect on April 18, 2023.
The legislation has a significant impact on U.S. car buyers and vehicle manufacturers, with a tax credit of $7,500 offered for each vehicle that fulfils the IRA requirements. To meet the eligibility criteria, 50% of a vehicle’s battery components must be manufactured or assembled in North America, while 40% of the essential minerals used in the battery – such as aluminium, cobalt, lithium, nickel, and graphite – must be extracted, processed, manufactured, and assembled in the U.S.
To find out more about TI Fluid Systems, visit www.tifluidsystems.com.
About TI Fluid Systems
TI Fluid Systems is a global innovator of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Serving all major automotive manufacturers, with more than 100 years of automotive supply experience; TI Fluid Systems operates across 28 countries with a commitment to improving efficiency, performance and sustainability worldwide.