Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« India’s Reliance Holdings invests in Algae.Tec; pilot algal biofuels agreement | Main | Study shows recent increase in US households without a vehicle »

Print this post

Former Dow Kokam acquires assets of MAHY E-Cell from Magna and Hyundai

21 January 2014

XALT Energy, LLC (formerly known as Dow Kokam) has acquired the assets of MAHY E-Cell, a joint venture between Magna International of America, Inc., a subsidiary of Magna International Inc. (Magna) of Canada and HHI Battery Co, Ltd., a subsidiary of Hyundai Heavy Industries (HHI) of South Korea. In exchange for their contribution of MAHY E-Cell’s assets and a cash investment into the joint venture, Magna and HHI received a minority interest in MBP Investors, LLC, the majority owner of XALT Energy.

Hyundai and Magna formed MAHY E-Cell in 2012 as a platform to co-develop and grow a battery cell and battery pack business. Under that agreement, HHI and Magna E-Car were to conduct joint engineering, design, development and testing activities with the goal of preliminary validation of battery cell and battery pack technologies for electric and hybrid electric vehicle applications.

Located at the Midland Battery Park in Midland, Michigan, XALT Energy was rebranded on 22 November 2013 when The Dow Chemical Company sold its interest in Dow Kokam to MBP Investors, LLC, an affiliate of Townsend Ventures, LLC. (Earlier post.) Townsend Ventures was a founding owner of Dow Kokam and now holds a majority interest in XALT Energy.

In addition to MAHY E-Cell announcement, XALT Energy has already increased jobs at the Midland Battery Park by more than 10% in the past six weeks and intends to add additional jobs in the first quarter of 2014.

January 21, 2014 in Brief | Permalink | Comments (2) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef01a511388c53970c

Listed below are links to weblogs that reference Former Dow Kokam acquires assets of MAHY E-Cell from Magna and Hyundai:

Comments

Can battery manufacturing in USA or Canada compete against Asian low cost manufacturing facilities?

This is one more case facing (cost) reality?

Many Japanese battery manufacturing facilities have or are moving to China.

The same will or has already happened with many vehicle parts manufacturing facilities.

HarveyD,
It depends on how automated the process is, and the relative cost of shipping (not to mention Chinese labor costs). I suspect more manufacturing will move back to the US, but who knows?

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

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.

Working...

Post a comment

Green Car Congress © 2013 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group