Britishvolt buys German battery cell maker EAS for 36 mln euros
24/05/2022 14:18
By Nick Carey
LONDON, May 24 (Reuters) - Electric vehicle (EV) battery
startup Britishvolt said on Tuesday it will buy German battery
cell developer and manufacturer EAS from Bulgaria's Monbat
MONB.BB for 36 million euros ($38.6 million) to help it scale
up its own production.
The deal is subject to regulatory approval, Britishvolt
said.
The startup said Nordhausen, Germany-based EAS is a "pioneer
in developing and producing large format lithium-ion cells using
innovative and compact electrode production technology" ideally
suited for its own high-performance, long-range "46xx" battery
cell format.
"The acquisition of EAS will allow us to scale up the final
part of the 46xx cell development and commercialization," CEO
Orral Nadjari said in a statement, adding Britishvolt aimed to
make additional investments in EAS.
Britishvolt is working with British sports carmakers Aston
Martin AML.L and Lotus to develop high-performance EV
batteries. urn:newsml:reuters.com:*:nL2N2V90IT urn:newsml:reuters.com:*:nL1N2U70RZ
Britishvolt has secured UK government backing for a battery
plant project in northern England, unlocking 1.7 billion pounds
($2.12 billion) in private funding. urn:newsml:reuters.com:*:nL1N2U00UZ
($1 = 0.9335 euros)
($1 = 0.8007 pounds)
(Reporting by Nick Carey; editing by Jason Neely)
((nick.carey@thomsonreuters.com; +44 7385 414 954;))