BorgWarner is to take over battery manufacturer Akasol. The companies announced a Business Combination Agreement for a strategic partnership as BorgWarner launches a voluntary public takeover offer.
The US-based group is then likely to acquire the German battery system supplier. Akasol is partner of e-bus makers like Daimler. Recently Akasol announced another deal with Turkey’s the largest commercial vehicle maker. In late 2020 the German supplier moved into its new headquarters in southwestern Darmstadt. Beginning in mid-2021, the company will offer a 2.5 GWh production capacity which can expand to 5 GWh with development.
“The backdrop to the Akasol/BorgWarner partnership is that the global automotive industry is experiencing a lack of battery cell making capacity,” says Alastair Hayfield, Senior Research Director at consulting firm Interact Analysis. Securing battery supplies and battery technology are clear strategic priorities for many automotive companies. Everyone wants to own or at least control that part of the supply chain. The Akasol/BorgWarner strategic partnership will deliver security for both companies: BorgWarner gets secure battery supply, while Akasol gets access to the funds it needs to develop its technology and grow.”
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