Daimler acquires lithium ion battery maker
German carmaker moves to intensify focus on electric cars.
The German companies said in a statement Tuesday that in addition to acquiring Evonik’s 50.1-per cent stake in Li-Tec Battery GmbH, Daimler will also buy Evonik’s 10-per cent 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.
© 2014 The Canadian Press