How Our Next Energy is building longer-range EV Batteries


One of the primary holdups for EV adoption remains range anxiety, the concern that a single battery charge will not last long enough. Although it may be unfounded in most cases, it’s an inherent challenge for automakers relying on lithium-ion batteries.

Our Next Energy (ONE), by contrast, is achieving best-in-class range for its lithium-iron-phosphate (LFP) battery, an alternative chemistry to the lithium-ion battery. Iron-based batteries cost less, don’t use scarce raw materials like cobalt and nickel, and are less likely to catch fire. In November 2023, ONE announced that a BMW iX SUV prototype equipped with its Gemini Dual-Chemistry battery, which uses both types, traveled a record 608 miles on a single charge (BMW i Ventures is an investor in ONE). That’s more than twice as far as the typical EV.

The company is conducting pilot production of its lithium-iron-phosphate cells in a new $1.6 billion factory in suburban Detroit with the goal of establishing the first U.S. supply chain for LFP batteries.  “Our commitment to Gemini is unwavering,” ONE’s founder and chief technology officer Mujeeb Ijaz told Fast Company in mid-February 2024.

Explore the full 2024 list of Fast Company’s Most Innovative Companies, 606 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 58 categories, including advertisingartificial intelligencedesignsustainability, and more.