Daimler acquires lithium-ion battery makerApril 1, 2014 in Technology / Energy & Green Tech
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 battery developer and producer, is based near Stuttgart and has 230 employees.
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"Daimler acquires lithium-ion battery maker" April 1, 2014 http://phys.org/news/2014-04-daimler-lithium-ion-battery-maker.html