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

Renewable energy companies use new clout in statehouses

Dec 24, 2014

Earlier this year, Ohio became the first state to freeze a scheduled increase in the amount of electricity that must be generated by wind, solar and other renewable sources. The move gave advocates of repealing states' mandatory ...

America's place in the sun: Energy report sets goal

Dec 24, 2014

A recent energy report said that America should build on the recent growth in solar energy by setting a goal of obtaining at least 10 percent of its electricity from solar power by 2030. "Star Power: The ...

Nevada, feds to study nuke-waste burial in state

Dec 23, 2014

Nevada and the federal government are agreeing to have a panel keep studying whether the U.S. will bury radioactive material from Tennessee at a former nuclear weapons proving ground north of Las Vegas.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.