Twitter headlines« Ricardo and Intelligent Energy to partner on fuel cell electric vehicles | Main | Bosch and Samsung SDI disbanding the SB LiMotive Li-ion joint venture »
Li-ion maker Electrovaya acquires majority shares in Miljøbil Grenland AS
5 September 2012
Electrovaya Inc. has acquired 71.6% of the shares of Miljøbil Grenland AS (MBG), bringing Electrovaya’s shareholding to 78.1% of MBG. MBG is based in Porsgrunn, Norway. MBG has invested about US$30 million in lithium-ion battery technologies for a range of electric vehicle and other transportation applications.
At the time of the acquisition, the controlling automotive OEM (Tata Motors) made a substantial investment in a non-exclusive IP license to use MBG’s technology.
We are delighted to be adding MBG to the Electrovaya team. his enables Electrovaya to expand into Europe, acquire a large portfolio of battery patents and other intellectual property, acquire plant and machinery and add a product portfolio which is targeted to the energy storage, marine and electric vehicles market while adding a strong technical team with many years of lithium ion battery systems experience.
—Dr. Sankar Das Gupta, CEO of Electrovaya
September 5, 2012 in Brief | Permalink | Comments (1) | TrackBack (0)
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef017c31a9e2d6970b
Listed below are links to weblogs that reference Li-ion maker Electrovaya acquires majority shares in Miljøbil Grenland AS:
Comments
Verify your Comment
Previewing your Comment
This is only a preview. Your comment has not yet been posted.
As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.
Having trouble reading this image? View an alternate.
This enlarged battery group could survive if Tata-India decides to use their batteries in future Tata electrified vehicles and if they can remain competitive with their high energy density batteries for portable equipment.
Posted by: HarveyD | September 05, 2012 at 07:06 AM