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acquisitions

Akasol IPO to expand battery investments

Tue, 06/12/2018 - 09:29 -- John Shepherd
Akasol IPO to expand battery investments

German battery manufacturer Akasol is preparing for an initial public offering (IPO)— and has its sights set on acquisitions buoyed by “strong growth” in the electric vehicle (EV) market. 

The Darmstadt-based company, incorporated just 10 years ago, said its lithium-ion battery systems business has already amassed orders worth EUR1.45 billion ($1.7bn) through to 2024, with clients including Daimler, Alstom, Bombardier and Rolls-Royce Power Systems.

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