China’s battery maker Guangdong Dynavolt has become the latest Chinese lead-acid firm to add a lithium-ion arm to its business on the back of plans to build an R&D centre for the chemistry.
The battery manufacturer has paid $2 million for a 33.33% share of Nevada-based 12V deep cycle lithium battery maker Dragonfly Energy.
The company will plough the cash into its product line and manufacturing capacity as well as boosting its research and development programme.
“This partnership will allow us to rapidly implement the battery cell manufacturing innovations that we have developed at Dragonfly Energy within Dynavolt’s manufacturing lines,” said a company statement.
“It will accelerate our entrance into the evolving RV, Marine, and off-grid deep cycle battery markets.”
The purchase is in line with Dynavolt’s fundraising for an R&D centre and motive lithium battery project following sister company Fujian Dynavolt’s own lithium plant, which broke ground last year.
The deal, which is Dynavolt’s first investment in the US to date, should lower manufacturing costs and boost expertise using Dragonfly’s technology.
Many big lead-acid battery firms have joined the surge to add lithium-ion to their brochures, with Camel, Chaowei, Tianneng and Shenzhen Center Power Tech all announcing plans for new plants this year.
The demand for electric vehicles in China is leading the surge, with some of these firms doubling lithium-ion output, reports the Shanghai Metals Market.
