Daimler acquires lithium-ion battery maker

April 1, 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: GM may have electric car breakthrough (Update)

Related Stories

GM may have electric car breakthrough (Update)

August 9, 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, ...

Tesla patent describes hybrid battery pack system for EVs

September 23, 2013

(Phys.org) —A Tesla Motors patent application filed earlier this year shows the company's interest in a hybrid battery pack using lithium ion and metal-air batteries. The patent is titled "Electric Vehicle Extended Range ...

Battery development may extend range of electric cars

January 9, 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 hurdles. Now, ...

Recommended for you

For these 'cyborgs', keys are so yesterday

September 4, 2015

Punching in security codes to deactivate the alarm at his store became a thing of the past for Jowan Oesterlund when he implanted a chip into his hand about 18 months ago.

0 comments

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.