US-based automotive supplier BorgWarner is preparing to take over the German battery manufacturer Akasol. (UTM reported about Akasol here: https://www.urban-transport-magazine.com/en/akasol-li-ion-batteries-for-transport-applications/ ).
BorgWarner has already acquired approximately 59% of Akasol’s shares.
It is a “friendly takeover”, meaning that both companies involved are in agreement and one company is not absorbed into the other against its will (“hostile takeover”). Akasol CEO Sven Schulz remains CEO of the new entity.
For Akasol, the “deal” is interesting because it significantly expands its possibilities to produce batteries. And that, in turn, is interesting because there is a worldwide lack of production capacity for batteries.18.02.2021