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.
The German government is backing research in the country designed to help “safeguard the future of lead-acid batteries”.
Goals of the AddESun project include helping the lead industry to achieve “more sustainable production, improved charging behaviour, longer service life and higher power density”.
Volkswagen has told BBB it will build a pilot manufacturing plant for battery cells in Germany as part of a new corporate “centre of excellence”.
The pilot facility, on which work is expected to start by 2019, will be incorporated with an existing VW plant in Salzgitter, Lower Saxony, a VW spokesperson confirmed.
German lithium-ion battery developer and producer BMZ has signed a long-term battery cells supply deal with South Korea’s LG Chem.
BMZ said the contract covered supplies of “over a few hundred million cells” by the end of 2022 for products in the electro mobility and energy storage markets.
Johnson Controls International (JCI) is to expand manufacturing of its advanced glass mat batteries in Germany.
The US-based battery giant said the move was needed to meet a new contract for its Power Solutions division to supply AGM truck batteries to European original equipment production plants and aftermarket service centres for MAN Truck and Bus.
German automotive manufacturer Continental has confirmed plans to launch a battery production joint venture with China’s Sichuan Chengfei Integration Technology (CITC).
Continental said the partnership is expected to start producing 48-volt mild hybrid lithium-ion battery systems in China, by the middle of this year, targeting the European, North American and Asian electric vehicle markets.