BorgWarner completes purchase of battery manufacturer AKASOL
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By Will Hall - 19th March 2022
Germany – BorgWarner Inc, based in Auburn Hills, Michigan, USA, has announced its completion of its previously announced takeover of German battery manufacturer AKASOL AG, headquartered in Darmstadt (see Truck & Bus Builder March 2021).
BorgWarner has acquired approximately 59% of AKASOL’s outstanding shares, valuing the German firm at around EUR754 million. BorgWarner stated that it believes the acquisition would strengthen its CV and off-highway battery systems business significantly as part of its electrification strategy.
