Silicon Valley-based electric vehicle (EV) maker, SF Motors, has acquired US EV battery module start-up InEVit— headed by former Tesla CEO Martin Eberhard.
Under the terms of the deal, the financial details of which were not disclosed, Eberhard will move from his post of chairman and chief technical officer at InEVit to become vice-chairman and chief innovation officer of SF Motors— founded last year as a subsidiary of China’s Chongqing Sokon Industry Group Co., Ltd.
InEVit has been working on a chemistry- and form-factor-agnostic battery module design that has led to key breakthroughs in energy density, manufacturing, serviceability and safety for its OEM partners, SF Motors said.
InEVit’s “expertise, patented technologies and manufacturing techniques” will be used to help SF Motors “rapidly and profitably scale e-powertrain production for its own future products”, the company said. It will also look to “license the technology to other automakers”.
