Daimler acquires lithium-ion battery maker

Apr 01, 2014

Automaker Daimler AG is acquiring the remaining shares in a lithium-ion battery cell maker from specialty chemical company Evonik Industries AG as it intensifies its focus on electric cars.

The German companies said in a statement Tuesday that in addition to acquiring Evonik's 50.1-percent stake in Li-Tec Battery GmbH, Daimler will also buy Evonik's 10-percent share in their Deutsche ACCUmotive GmbH & Co. KG battery partnership. Daimler is now sole owner of both companies.

The companies say they agreed not to divulge financial details.

Li-Tec is based near Dresden and has some 380 employees. It develops, produces and distributes large lithium-ion battery cells, which are currently used in Daimler's Smart electric two-seater.

Deutsche ACCUmotive, a developer and producer, is based near Stuttgart and has 230 employees.

Explore further: A battery that 'breathes' could power next-gen electric vehicles

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

GM may have electric car breakthrough (Update)

Aug 09, 2012

A small battery company backed by General Motors is working on breakthrough technology that could power an electric car 100 (160 kilometers) or even 200 miles (320 kilometers) on a single charge in the next two-to-four years, ...

Battery development may extend range of electric cars

Jan 09, 2014

It's known that electric vehicles could travel longer distances before needing to charge and more renewable energy could be saved for a rainy day if lithium-sulfur batteries can just overcome a few technical ...

Recommended for you

Image: Testing electric propulsion

Aug 20, 2014

On Aug. 19, National Aviation Day, a lot of people are reflecting on how far aviation has come in the last century. Could this be the future – a plane with many electric motors that can hover like a helicopter ...

Where's the real value in Tesla's patent pledge?

Aug 20, 2014

With the much-anticipated arrival next month of electric vehicle manufacturer Tesla's Model S to Australian shores, it's a good time to revisit Tesla's pledge to freely share patents. ...

New type of solar concentrator doesn't block the view

Aug 19, 2014

(Phys.org) —A team of researchers at Michigan State University has developed a new type of solar concentrator that when placed over a window creates solar energy while allowing people to actually see through ...

User comments : 0