Mexican Media Brands
Daimler Buys Evonik’s Stakes in Two Battery Ventures
Daimler AG has agreed to take full control of its two batterymaking ventures with Germany's Evonik Industries AG.
#hybrid
Share
Daimler AG has agreed to take full control of its two batterymaking ventures with Germany's Evonik Industries AG. Terms were not disclosed.
Daimler is acquiring Evonik's 50.1% stake in Li-Tec, a lithium-ion battery venture launched by the two companies in 2011. The company makes battery cells for Daimler's SmartTwo electric city car.
Daimler also will buy Evonik's 10% stake in Deutsche Accumotive GmbH, a partnership set up by the companies to assemble battery packs from the cells supplied by Li-Tec.
Media reports last summer indicated Daimler might look for a third partner to prop up the ventures, which have struggled over the EV market's slow growth. Li-Tec had hoped to achieve a breakthrough by now that would double or triple the power capacity of a lithium-ion cell.
RELATED CONTENT
-
Special Report: Toyota & Issues Electric
Although Toyota’s focus on hybrid powertrains at the seeming expense of the development of a portfolio of full battery electric vehicles (BEVs) for the market could cause some concern among those of an environmental orientation, in that Toyota doesn’t seem to be sufficiently supportive of the environment, in their estimation. Here’s something that could cause a reconsideration of that point of view.
-
On Zeekr, the Price of EVs, and Lighting Design
About Zeekr, failure, the price of EVs, lighting design, and the exceedingly attractive Karma
-
How to Build a Military Vehicle from a Pickup Truck
A real piece of military gear. A real pickup that you can get at a Chevy dealership. A really remarkable story.
