The acquisition, through its US subsidiary Komatsu America Corporation, will allow the Japanese company to develop and produce a full range of battery-powered vehicles and machinery in-house, starting with mining vehicles for the North and South American markets.

American Battery Solutions Inc (ABS) states that its Li-Ion batteries have been fully designed, tested, and validated at its engineering and development centre located in Lake Orion with pack production scheduled to begin in the third quarter of 2023 at ABS' Springboro, OH manufacturing facility.

The transaction includes more than 100 IP assets, including 24 U.S. patents and 143 pending applications in battery pack design, manufacture, and management.