General Motors (GM) is moving its BrightDrop electric commercial vans business into the Chevrolet brand, the company said in a press release on Aug. 29. The strategic move will not only expand Chevrolet’s lineup for commercial vans but will significantly improve availability of BrightDrop electric commercial vans through its extensive sales and distribution network. Chevrolet’s own commercial vans portfolio includes the Express Cargo Van and Express Passenger Van. “With the addition of ...

As reported in a press release on July 8, Seeing Machines has recently acquired the Berlin-based company Asaphus, a move announced alongside a strategic collaboration with Valeo, a prominent figure in the automotive industry. The partnership aims to fortify their stance in the driver and occupant monitoring systems market. As part of the agreement, Valeo will transfer its driver monitoring perception software activity, stemming from its acquisition of Asaphus, to Seeing Machines. This is intende...

Craftsman Automation Ltd., an Indian manufacturer of machined powertrain components, has announced the acquisition of the remaining 24% stake in DR Axion India Pvt. Ltd. (DRAIPL), a subsidiary it acquired 76% of in February 2023. The acquisition is expected to be completed by June 30, 2024. The move aims to strengthen Craftsman's presence in the passenger vehicle segment and enter the e-mobility solutions market through process synergies, access to DRAIPL's customer base and technological col...

US component major BorgWarner Inc. announces the completion of its acquisition of Hubei Surpass Sun Electric’s (SSE’s) Electric Vehicle Charging Solution, Smart Grid, and Smart Energy businesses. The company made the announcement through a press release on 1 March 2023. The acquisition of SSE is a strategic fit, bolstering BorgWarner’s charging expertise and footprint, capitalizing on the profound industry shift toward electrification. Announcing the acquisition in September 2022, ...

Shell USA, Inc., a subsidiary of Shell plc, has signed a definitive agreement to acquire 100% stake in EV charging network company Volta Inc. in an all-cash deal valued at approximately USD169 million, Shell announced on 18 January 2023. The acquisition of Volta will give Shell access to its assets such as an existing public EV charging network of over 3,000 charge points at destination sites (shopping centers, grocery stores, pharmacies) across 31 US states and territories, a development pip...

Stellantis has begun exclusive negotiations with Faurecia and Michelin to acquire a significant stake in Symbio, a Faurecia – Michelin joint-venture (JV) company focused on zero-emission hydrogen mobility, the carmaker announced on 23 December 2022. The transaction is expected to be wrapped up in the first half of 2023 and is subject to customary closing conditions, including regulatory approvals, Stellantis said. “Symbio’s technical roadmap perfectly matches with Stellantis’ ...

Michigan-based global supplier of powertrain technologies, BorgWarner, has announced its intention to execute a tax-free spinoff of its fuel systems and aftermarket segments into a separate, publicly traded company (“NewCo”), according to a press release dated 6 December. “The intended separation supports optimizing our combustion portfolio and advancing our electrification journey while NewCo would be able to pursue growth opportunities in alternative fuels, such as hydrogen, and in Af...

Swedish carmaker Volvo Cars plans to divest its 33% stake in Aurobay to parent company Geely Holding as part of its corporate strategy to develop only electric cars by 2030, the company announced on 8 November 2022. “The divestment is yet another important step in its transformation towards becoming a fully electric car manufacturer,” the company said in its official statement Tuesday. It added that the divestment also makes Volvo Cars the first car manufacturer to fully exit its par...

Michigan-based global supplier of powertrain systems and electric mobility solutions BorgWarner has acquired China-based EV charging solutions provider Hubei Surpass Sun Electric (SSE) for CNY410 million (USD58.44 million), the company announced on 20 September 2022. “The company has entered into an equity transfer agreement under which it has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of SSE,” BorgWarner said in a statement Tuesday. The com...

Germany based Schuler Group has acquired the Italian mechanical engineering company Sovema Group as part of its larger corporate strategy to become a leading system supplier in battery cell production for the automotive industry and other sectors, the company announced on 23 August 2022. In a press note issued on Tuesday, Schuler said that together with Sovema, it plans to develop machines and systems that giga factories around the world need for the mass production of lithium-ion (Li-ion) ba...

South Korea’s SK Inc. and SK Energy have acquired the management rights of US startup Atom Power Inc., for USD150 million, the company announced on 18 August 2022. Atom Power, which was set up 2014, developed the solid-state circuit breaker (SSCB), which is controlled by power semiconductors. Atom Power uses the technology in operating EV charging and energy solution businesses in the US. Interestingly, Atom Power’s SSCB technology also takes the role of measuring and collecting electrici...

Allego N.V., a leading pan-European public electric vehicle (EV) fast-charging operator has acquired the charging network provider Mega-E for EUR33 million (USD33.28 million), Allego said on 11 July 2022. Mega-E, which stands for Metropolitan Greater Areas Electrified, was an initiative led by Allego and other companies with an aim of setting up high power charging stations across Europe. The acquisition of Mega-E will consolidate the latter’s network of EV charging stations into Allego’s...

The Financial Times reported on 12 July that Chinese lithium producer Ganfeng Lithium had agreed to buy Argentina-focused mining group Lithea and its existing lithium assets for USD962 million. According to the press release, the acquisition involves rights to the Pozuelos and Paston Grandes salt lake brines located in the Saltas province in Argentina. Lithea was previously owned by Canadian company LSC Lithium Corporation that in turn was owned by Dutch energy company Pluspetrol Reso...

POSCO Group has announced that the company acquired silicon anode materials startup Tera Technos with an investment of KRW47.8 billion (USD36.79 million), Green Car Congress reported on 9 July. According to the report, traditional silicon anode materials degrade owing to volume expansion during charge and discharge cycles, but Tera Technos' silicon oxide (SiOx) is a nano-mixture structure that minimizes volume expansion and fracture, ensuring battery capacity and stability. Additionally, the ...

The owners of Germany’s Schaeffler Group, the Schaeffler family, has raised their stake in Continental’s former powertrain division Vitesco Technologies AG to just under 50%, MarketWatch reported on 4 July 2022, citing the family’s holding company IHO. According to the report, the Schaeffler family, which controls the automotive components supplier Schaeffler AG, has acquired around 1.6 million shares in Vitesco Technologies, bringing its shareholding to 39.99%, from 35.89% previou...

Chinese company Zijin announced via a stock exchange release on 29 June that it had entered into an equity transfer agreement worth USD269 million (CNY1.8 billion) to acquire a 71.14% stake in Chinese mining company Houdao mining. According to the release, the investment was primarily driven for access by the Xiangyuan Lithium Polymetallic Mine in Dao County, Hunan Province, held currently by Houdao. The mine in question is a large-scale greisen-type low-grade lithium deposit that c...

Schneider Electric has acquired electric vehicle (EV) charging solution provider EV Connect for an undisclosed sum, according to a company press release on 21 June. Following the deal, CEO and founder Jordan Ramer will continue to lead EV Connect's operations as a distinct subsidiary along with the current management team. “We are thrilled to partner with Schneider Electric. They not only support our strategic goals, but fully embrace the value of electricity as a transportation fuel manage...

Canadian nanotechnology research company Meta Materials announced via press release on 17 June that it had signed a definitive agreement to acquire the assets and intellectual property (IP) of American nanocomposites company Optodot. The USD48.5 million acquisition amount comprises of USD3.5 million in cash and USD45 million of META shares of common stock. Optodot specializes in developing high-safety nano-composite ceramic NPORE battery separators for the lithium-ion battery market. Ac...

Blink Charging Company, one of the leading providers of electric vehicle (EV) charging networks in the United States, has signed a definitive agreement to acquire SemaConnect, Inc., a Maryland, US–based EV infrastructure company, for USD200 million, Blink said on 14 June 2022. The acquisition of SemaConnect will add nearly 13,000 EV chargers to Blink’s existing footprint, along with an additional 3,800 site host locations and more than 150,000 registered EV driver members, the compan...

BrightDrop has entered into an agreement with Marain, a California-based technology startup, to purchase its fleet optimization software, according to a press release on 10 June 2022. BrightDrop will include Marain's artificial intelligence-powered fleet optimization software into its ecosystem of last-mile solutions to assess, forecast, and find multimodal options for fleet clients as they plan their journey to full-fleet electrification. Following the acquisition, Marain cofounders Sco...

German technology company focused on industry, infrastructure, and transport Siemens AG has acquired a minority stake in US-based wireless electric vehicle (EV) charging technology company WiTricity, Siemens announced on 8 June 2022. It said that it has invested USD25 million in WriTricity without divulging how much stake it has acquired in the latter. “Siemens and WiTricity will work together to drive innovation in the emerging market for wireless EV charging,” Siemens said in a sta...

Japanese oil company Eneos has acquired the rights to operate about 4,600 electric vehicle (EV) chargers located across commercial facilities from electronics company NEC Corporation, a report published by the Japan-based newspaper The Asahi Shimbun said on 7 June 2022, citing the company announcement. The acquisition is part of Eneos’ larger plan of venturing into the EV charging business and build a network of charging stations across Japan, it said, adding that Eneos’ strategy to shift...

Australian mining company Marquee Resources (MQR) announced via press release on 2 June that it had entered into a partnership with Mineral Resources Limited (MinRes) regarding the rights to its West Spargoville lithium project (WSP) in Western Australia. According to the press release, the agreement provides MinRes the right to acquire an initial 25% interest in lithium rights in exchange for funding (AUD1 million) USD720,000 for exploration and development activities at the site. Th...

Shell Malaysia has announced a deal to acquire 50% shareholding in Pixelbyte, the company operating ParkEasy, according to a company press release on 3 June. ParkEasy is a mobile application software helping drivers park and offer a pre-booked slot for EV Charging. “Decarbonising Mobility and enabling better services to our customers through digital innovation are core to our Powering Progress strategy. We intend to make investments that will help us serve our customers better through the e...

Indian automaker Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for acquiring the latter’s passenger vehicle manufacturing plant in Sanand, Gujarat, news publication Business Standard reported on 31 May 2022. It said that the acquisition of Ford’s manufacturing unit by Tata Motors would help the automaker expand capacity to make passenger cars as well...

UK specialty chemicals company Johnson Matthey (JM) announced via a press release on 26 May that it had sold the bulk of its Battery Materials business to Australian materials company EV Metals Group for USD63 million (GBP50 million) in cash. According to the press release, the sale includes: Company assets at the Battery Technology Centre in Oxford A pilot plant in Billingham A research center in Moosburg, Germany A partly constructed site in Konin, Poland Johnson Matthey�...

Battery cell technology company Britishvolt has signed a sale and purchase agreement with the Monbat Group, which is one of Europe’s leading battery solutions companies, to acquire its subsidiary EAS, Britishvolt announced on 24 May 2022. The agreement values EAS, which is a Nordhausen, Germany-based R&D company focused on high performance battery cells, at EUR36 million (USD38.46 million), it said. “Our 46xx cell format, developed as part of our wider R&D program, gives Britishvo...

Canadian battery materials company Nano One Materials Corporation has signed a binding agreement to acquire Johnson Matthey Canadian entity, Johnson Matthey Battery Materials (JMBM Canada) for about CAD10.25 million (close to USD8 million), the London-based multinational company said on 25 May 2022. The acquisition, it said, is fully funded and is on a cash-free, debt-free basis and the transaction is expected to complete by end 2022. According to Johnson Matthey, JMBM Canada employs a team w...

Zurich-based power equipment company ABB has agreed to acquire a controlling stake in India’s Numocity, a leading startup that has developed digital platform for electric vehicle charging, ABB announced on 25 May 2022. Interestingly, ABB plans to increase its shareholding to a controlling majority of 72 percent from earlier 7 percent and has also secured the right to become the sole owner by 2026. That said, the company has not disclosed financial details of the transaction. Three years ago...

Austrian supplier Miba has acquired a majority stake in the Mühlviertel-based battery specialist Voltlabor, the company said on 23 May 2022. The newly acquired company will be known as Miba Battery Systems, it added. Voltlabor is known for developing and producing battery systems for a wide range of end-use applications from electric cars and electric motorcycles to buses, autonomous forklifts, electric snow groomers as well as manned drones. Miba Battery Systems is currently building a b...

German automotive wires, cables and wiring system supplier Leoni has signed an agreement with STARK Corporation, a wire and cable supplier headquartered in Bangkok to sell its business group automotive cable solutions, according to an official press release on 23 May 2022. In the fiscal year 2021, the sold activities generated revenues of roughly EUR1.3 billion (USD1.38 billion) and have an enterprise value of EUR560 million. After deducting financial obligations and pension expenditures, the...

Michigan-based ATC Drivetrain, which is a leading independent global remanufacturer of automotive powertrain and drivetrain systems, has acquired Global Battery Solutions (GBS), a supplier of battery life-cycle management and EV component services, the company said on 18 May 2022. Global Battery Solutions (GBS), which too is based in the Michigan area, operates out of a 50,000 square-foot manufacturing facility and shares strong relationships with its OEM customers. According to ATC Drivetrai...

India-based tier-1 automotive component supplier Endurance Technologies has entered into an agreement with ION Energy Inc. (ION) for acquisition of 100% stake in Maxwell Energy Systems Private Limited, the company said in a regulatory announcement on 18 May 2022. Maxwell Energy Systems, ION'S advanced electronics subsidiary, is known for developing embedded electronics, particularly battery management systems for vehicles, including electric vehicles (EVs) and for stationary storage systems. ...

Antin Infrastructure Partners has announced that it signed an investment agreement with Power Dot, Arié Group and other current shareholders to acquire a controlling stake in electric vehicle (EV) charging operator Power Dot, according to a press release published by Antin on 18 May. Nicolas Mallet, NextGen Partner at Antin, said, “Power Dot is exactly the sort of company that we envision for our NextGen strategy. Antin has always been at the forefront of identifying long-term market trend...

California-based lithium-ion battery maker Amprius Technologies, which is known for its patented Si Nanowire Anode Platform, has signed a definitive agreement with Kensington Capital Acquisition Corp. IV, a special purpose acquisition company (SPAC), to become a publicly listed company on the New York Stock Exchange (NYSE), it said on 12 May 2022. Founded in 2008, Amprius Technologies is the developer of ultra-high energy density lithium-ion batteries using its innovative, patent-protected si...

North American mining company Northern Graphite announced via press release on 2 May that it had closed its acquisition of the Lac des Iles graphite mine (“LDI”) in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. According to the press release, the company purchased the Quebec mine from a subsidiary of French mining company Imerys SA and the Namibia site from a subsidiary of Imerys and its joint venture partner. According to Norther Graphite, the acquisit...

US-based electric vehicle (EV) charging network provider Blink Charging Company announced on 26 April 2022 that its wholly owned subsidiary in Europe, Blink Holdings BV, has acquired UK’s Electric Blue Ltd. (also known as EB Charging). EB Charging is a provider of integrated EV charging and sustainable energy-based solutions. It is to be noted that with the said acquisition of EB Charging, Blink Charging has not only marked its official entry in the United Kingdom but has also consolidat...

Australian battery minerals company Prospect Resources announced via press release on 20 April that it had sold its 87% interest in the Arcadia Lithium Project in Zimbabwe to a subsidiary of mainland Chinese lithium-ion (Li-ion) battery materials producer Zhejiang Huayou Cobalt. According to the press release, the transaction involves a cash transfer of approximately USD343 million after a payment of USD27 million as capital gains tax and USD8 million to mainland Chinese mining services compa...

US automated test equipment company NI announced via press release on 31 March that it had entered into a definitive agreement to acquire Kratzer Automation’s systems testing business to strengthen its electric vehicle (EV) testing capabilities. Through the acquisition, NI will be able to test all mission critical components of EVs including battery, inverter, and engine control. Drita Roggenbuck, NI Sr. VP and general manager, Transportation, said, “The addition of the products, servi...

Michigan-based global supplier of powertrain technologies and electric mobility solutions BorgWarner has completed its acquisition of China’s Santroll Automotive Components, the company updated on 1 April 2022. Notably, Santroll Automotive Components is a unit of Santroll’s eMotor business, which is a Tianjin, China-based powertrain supplier. The company designs and manufactures hairpin and concentrated-winding technology eMotors that are used in the light vehicles. Santroll supplies its ...

French automotive supplier Plastic Omnium announced on 29 March 2022 that it has entered into exclusive negotiations with ACTIA Group to acquire its ACTIA Power division, which specializes in the design and production of batteries, power electronics and electrification systems for electric vehicles (EVs). While Plastic Omnium did not disclose the investment it has earmarked to acquire ACTIA Power, it said that it aims to build a complete range of energy management solutions for all types of engi...

Reliance New Energy Limited, which is a wholly owned subsidiary of Indian conglomerate Reliance Industries Ltd, has signed definitive agreements to acquire all the assets of lithium iron phosphate (LFP) battery maker Lithium Werks BV for USD61 million, Reliance said in a regulatory filing on 14 March 2022. According to the official note, Lithium Werks’ assets acquired by Reliance include former’s 100% stake in Lithium Werks Technology B.V. (LW Tech) and in Lithium Werks China Manufacturin...

Michigan-based global supplier of powertrain technologies and electric mobility solutions BorgWarner has signed an equity transfer agreement with China’s Santroll Electric Auto and Santroll Automotive Components to acquire Santroll Automotive Components for CNY1.4 billion (USD220.65 million), the company said on 15 February 2022. BorgWarner said that the deal entails a closing payment of CNY1.1 billion (USD173.37 million) and an earnout of up to CNY0.3 billion (USD47.28 million). “The tra...

US automotive powertrain manufacturing company Cummins announced via press release on 22 February that it would be acquiring Michigan-based commercial vehicle systems manufacturer Meritor for USD3.7 billion in a cash and assumed debt deal. According to the press release, Cummins will pay USD36.5 in cash per Meritor share, with the total transaction value including assumed debt and net of acquired cash. Cummins CEO, Tom Linebarger, stated, “The acquisition of Meritor is an important miles...

Zurich-headquartered electrification and automation technology company ABB has acquired a controlling stake in US-based EV charging infrastructure startup InCharge Energy, the company said on 27 January. ABB said that that the addition of InCharge Energy will strengthen its ‘E-mobility’ division in the North American market by broadening its customer base and expanding its fleet electrification software and digital services offering. While ABB did not disclose the financial terms of ...

The combined company from the merger between Faurecia and HELLA will be known as Forvia, and will be the seventh largest automotive supplier in the world, the company announced in a press release on 7 February. The new brand reflects both the companies’ evolving innovation and producing future ready sustainable solutions.     Patrick Koller, Faurecia CEO, said, “We are FORVIA! This new name reflects core elements of our Faurecia and HELLA brands, as well...

Michigan-based global supplier of powertrain technologies BorgWarner said on 5 January 2022 that the company has sold its Water Valley, Mississippi facility to Atar Capital. The company said that the sale of the said plant is consistent with its accelerated electrification strategy, which it refers to as Project Charging Forward, announced in March 2021. Under its Charging Forward strategy, BorgWarner had set a target to dispose of USD3 billion to USD4 billion in annual revenues from its comb...

JBM Auto Limited, one of the leading vehicle manufacturers in India, has acquired 51% stake in JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited through its subsidiary JBM Electric Vehicles Private Limited, the company said in a regulatory notification on 10 January 2022. After this acquisition, JBM Green Energy Systems and JBM EV Industries have become the indirect subsidiary companies of JBM Auto Ltd., it said. While JBM Green Energy is engaged in manufacturing ...

Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd., has signed definitive agreements to acquire 100% shareholding in sodium-ion battery technology company Faradion Limited for an enterprise value of GBP100 million (over USD135.2 million), the company said on 31 December 2021. It further added that RNESL will further invest GBP25 million (close to USD34 million) as growth capital to accelerate its commercial roll out. Notably, Faradion, which is bas...

Swiss fineblanking and lamination stamping company Feintool announced via press release on 7 December that it had acquired German motor core manufacturer Kienle + Spiess from Japanese trading company Sumitomo Corporation. According to the press release, Feintool expects to significantly expand its electric sheet stamping business and position itself as one of Europe's leading manufacturers of motor cores for battery electric vehicles (BEV) and hybrids (HEV) with the acquisition. The comp...

Ohio metal manufacturing company Worthington announced via a press release on 1 December that its Steel Processing Unit has acquired motor and transformer lamination manufacturer Tempel Steel Company for USD255 million. According to the press release, the acquisition adds five manufacturing facilities located in Chicago, Canada, mainland China, India, and Mexico, as well as 1,500 employees to the company. According to Worthington CEO Andy Rose, “The addition of Tempel makes us ...

Global metals and mining company Rio Tinto has signed a binding agreement to acquire the Rincon lithium project in Argentina from Rincon Mining for USD825 million, the company announced on 21 December 2021. Rincon Mining is a company owned by funds managed by the private equity group Sentient Equity Partners. Rio Tinto said that the acquisition demonstrates its commitment to build its battery materials business and strengthen its portfolio for the global energy transition. Notably, Rincon ...

British oil and gas company bp has acquired the California-based EV charging startup AMPLY Power for an undisclosed amount, the company said on 7 December 2021. According to bp, the acquisition of AMPLY Power is aligned with its plan to scale-up the next generation mobility solutions, providing the fastest, most reliable and convenient network of charging and digital solutions for customers, including individual drivers and fleet operators. bp said that under the terms of the agreement, A...

Johnson Matthey announces the sale of its Advanced Glass Technologies (AGT) business to Fenzi Holdings SPV S.p.A for EUR178 million (USD199.52 million) in a press release on 24 November.   Significance: The company said that it continues to make good progress in other growth areas, such as hydrogen technologies, circularity, and the decarbonization of the chemicals value chain. On these areas, it said, “These are attractive opportunities which we will now accelerate with...

According to a press release dated 25 November, GreenMobility has signed a term sheet to acquire Fetch Carsharing, making the Netherlands GreenMobility's sixth country of operation and Amsterdam its 11th operational city. The final agreement should be completed before the end of 2021. The acquisition of Fetch Carsharing will be GreenMobility's second acquisition, allowing GreenMobility to continue its growth and, as a result, reduce the initial launch risk of entering a new market. Simultaneo...

French carmaker Renault Group has acquired a 21% minority stake in engineering services company Whylot, it announced on 23 November. Whylot is a company based in the Lot region of France that has developed a unique technology in the promising sector of innovative electric motors. “This acquisition of a stake in the French start-up reinforces the existing strategic partnership between the two companies,” it said in a note. Earlier in June 2021, Renault Group had signed a partnership wit...

Sensata Technologies announced the completion of the previously announced acquisition of Spear Power Systems in an official press release dated 19 November. Spear Power Systems creates scalable lithium-ion battery storage systems for demanding land, sea, and air applications. Spear Power Systems' energy storage systems are cell-agnostic, with proprietary battery management and monitoring for all lithium-ion (Li-ion) chemistries from multiple battery suppliers, and feature high energy density,...

Spark Minda acquired 49% stake in the electronics joint venture (JV) with Stoneridge thereby controlling the entire automotive instrument cluster and sensors business, the company said in a statement on 3 November. The company is said to expand its technical know-how further through the transaction with Stoneridge Inc. “Our technical collaboration with Stoneridge continues — or rather we have expanded our technical scope. However, after the stake buy, there is a flexibility for us to go i...

American chemicals giant DuPont Inc. announced via press release on 2 November that it had agreed to acquire Arizona-based specialty engineered materials company Rogers Corporation for USD5.2 billion. According to the release, the all-cash transaction is expected to close in the second quarter of 2022, subject to customary closing conditions, including approval by Rogers shareholders and receipt of applicable regulatory approvals. Under terms of the deal, Rogers shareholders are expected...

Indian automotive supplier Minda Corporation Ltd has acquired a 26% equity stake in Bangalore-based EV charging solutions startup EVQPOINT Solutions, the company said in a regulatory filing on 1 September. The investment in the startup would be made through Minda Corp.’s wholly owned subsidiary Spark Minda Green Mobility Systems Pvt Ltd (SMGMS), it said. “Pursuant to the shares subscription and shareholders agreement, SMGMS has agreed to subscribe for allotment of at least 26% of the equi...

onsemi has announced the completion of its acquisition of GT Advanced Technologies, according to a company press release on 1 November. The acquisition improves onsemi’s supply of silicon carbide (SiC) chips. onsemi plans to expand GTAT’s manufacturing facilities, support research and development for 150mm and 200mm SiC crystal growth technology, and invest in the SiC supply chain, including Fab capacity and packaging. “We are thrilled to have completed this acquisition, which enable...

Australian mining company Sayona announced via press release on 30 September that it would be acquiring the Moblan Lithium Project in the Eeyou‐Istchee James Bay region of Northern Québec. According to the release, under an agreement with Lithium Royalty Corp. (LRC), Sayona will acquire LRC’s right to purchase the 60% interest in the Moblan project held by Guo Ao Lithium Ltd. and will acquire the Moblan Interest from Guo Ao for a consideration of USD86.5 million. SOQUEM Inc., the 40...

According to a press release published on the GlobeNewswire on 5 September, Otonomo Technologies has acquired Neura, Inc. (Neura), a leader in AI-powered Mobility Intelligence. Otonomo purchased all of Neura's outstanding equity interests. Otonomo anticipates that this acquisition will accelerate Otonomo's growth and contribute positively to Otonomo's revenue in the future. Otonomo's newly expanded mobility intelligence platform will make use of Neura's advanced analytics, which are powered b...

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for USD37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has terminated its merger agreement with Magna and entered into a merger agreement...

South Korea’s SK Innovation has officially announced spin-off of its existing battery and E&P businesses on 1 October. According to the company press release, while its battery business will now be called ‘SK On’, the E&P business will have ‘SK Earthon’ as its corporate name. Notably, SK Innovation had approved the spin-off of two companies in its Board of Directors meeting on 3 August and had confirmed the decision at an extraordinary shareholders’ meeting on 16 September...

Canadian mining company Millennial Lithium Corporation announced in a press release on 28 September that it has entered into a definitive arrangement agreement with Mainland China based EV battery maker Contemporary Amperex Technology Company Ltd. (CATL) pursuant to which CATL will acquire the former for about CAD377 million (about USD298 million). “CATL will acquire all of the outstanding shares of Millennial by way of a plan of arrangement for CAD3.85 per common share, payable in cash, re...

According to an official press release dated 21 September, Amsterdam, the Netherlands, Kendrion N.V., a leading developer, manufacturer, and marketer of high-quality electromagnetic systems and components for industrial and automotive applications, has acquired 3T, a software and electronics development company based in the Netherlands. In the transaction, Kendrion has acquired 100% of 3T’s shares for an undisclosed amount, which Kendrion will finance from existing resources. The acqui...

German luxury carmaker Mercedes-Benz has acquired an equity stake in European battery cell manufacturer Automotive Cells Company (ACC) to secure and scale up the development and production of high-performance battery cells and modules, the company said announced on 24 September. ACC was set up last year by vehicle manufacturer Stellantis and French oil and gas company TotalEnergies to focus on making electric vehicle (EV) batteries in Europe. According to Markus Schäfer, Member of th...

Piedmont Lithium Inc. has announced that it has completed a 9.9% investment in IronRidge Resources. According to a press release issued by Piedmont Lithium on 31 August, this investment is part of a project agreement with IronRidge Resources (IRR) to acquire up to 50% of IRR’s lithium portfolio in Ghana, Africa via staged investments over 3–4 years supporting exploration, definitive feasibility study, and initial capital costs for IRR’s Ewoyaa Project. The Ewoyaa Project, located in wes...

New York-based venture capital firm 10X Capital has acquired additional shares in Israel-based electric vehicle (EV) platform developer REE Automotive. In a press release issued by 10X Capital on 8 September, the investment firm said that its leadership, Hans Thomas, CEO  and David Weisburd, COO, have each made filings with the SEC, reporting the purchase of additional shares in REE Automotive common stock. The two have together purchased additional shares totaling approximately USD2 millio...

Piedmont Lithium Inc. has announced that Sayona Québec has completed its acquisition of North American Lithium Inc. (NAL). According to a press release issued by Piedmont Lithium on 30 August, the company stated that the transaction was pursuant to a share purchase agreement previously announced on 30 June 2021. Sayona Quebec is 25% owned by Piedmont Lithium and 75% owned by Sayona Mining. Piedmont and Sayona are now advancing technical studies for the future restart of NAL’s spodumene con...

Commerce-centric EV charging startup, Volta, has announced that it has completed its previously announced business combination with Tortoise Acquisition Corp. II, a special purpose acquisition company (SPAC), and that it has been renamed to Volta Inc. According to a press release issued by Volta Inc. on 26 August, the company stated that it has listed its Class A common stock and public warrants on the New York Stock Exchange (NYSE) under the ticker symbols “VLTA” and “VLTA.WS”, respe...

According to an official press release dated August 26, onsemi and GT Advanced Technologies, a producer of silicon carbide (SiC), announced the signing of a definitive agreement in which onsemi will acquire GTAT for USD415 million in cash. “This transaction reflects our confidence and stated commitment to meaningfully invest in silicon carbide solutions to support the creation ofintelligent power and sensing technologies to help build a sustainable future,” said Hassane El-Khoury, preside...

Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) is evaluating buying a minority stake in the Chinese mining company Jinchuan Group International Resources, Bloomberg reported on 26 August, citing sources aware of the matter. CATL, it said, is mulling the said acquisition to secure supplies of key battery metals. “Ningde, Fujian-based CATL, a leading EV battery maker, is in initial discussions with Jinchuan International about acquiring a roughly 10% sta...

Germany-based automotive components supplier, Benteler, has announced that it has signed an agreement with Fidelium Partners to sell two of its automotive plants located in Tønder, Denmark and Louviers, France. According to a press release issued by Benteler on 23 August, the company stated that this sale is a part of the implementation of its transformation program, which was initiated in 2018 with the objective of focusing on its core business as a metal processing specialist. The trans...

Michigan-based global supplier of powertrain technologies BorgWarner has invested USD10 million in Enexor BioEnergy, LLC, in its Series A funding, acquiring a minority stake in the latter, the company said in a press release on 23 August. Enexor BioEnergy is a company that provides on-site renewable energy and carbon conversion solutions. Borgwarner’s move to acquire the stake in Enexor is in line with its efforts to expand its activities in the sustainability business. “Enexor’...

Sensata Technologies, a leading industrial technology company and provider of sensor-rich solutions and insights for customers, announced the acquisition of Spear Power Systems, a leader in lithium-ion based energy storage solutions for mission-critical and demanding end user applications, according to an official press release dated 23 August. “We are pleased that the talented Spear Power Systems team, including over 40 highly experienced engineers, will be joining Sensata,” said Vineet ...

ChargePoint Holdings, Inc. announced that it has acquired ViriCiti, a provider of electrification solutions for eBus and commercial fleets for a total purchase price of approximately EUR75 million (approximately USD88 million) in cash. According to a press release issued by ChargePoint on 11 August, the combined company’s portfolio will include hardware, software, and services that integrate information sources to optimize electric fleet operations, including battery management, charging st...

Michigan-based supplier of powertrain technologies Borgwarner has invested in CelLink Corporation in an attempt to strengthen its electric vehicle battery technology portfolio, the company said in a press release on 16 August. California-based CelLink Corporation is known for developing large, high-conductance flexible circuits for electric vehicle battery and other energy storage applications. The series C equity investment in CelLink Corp complements BorgWarner’s technology investments...

Rome-based energy company, Eni has signed an agreement to acquire 100% of Be Power S.p.A., an electric vehicle charging network operator in Italy, the company said in a press announcement on 5 August. Eni has acquired Be Power through its energy management solutions subsidiary, Eni gaseluce, it said. Meanwhile, Be Power, through its subsidiary Be Charge, is one of the leading EV charging network operators with more than 5,000 EV charging points. According to the company, the acquisition of...

Phillips 66 has entered into an agreement to buy a 16% stake in Australia-based NOVONIX, it said in a press release on 9 August. NOVONIX develops and supplies materials for lithium-ion batteries. Under the agreement, Phillips 66 will subscribe for around 78 million ordinary shares of NOVONIX for USD150 million. Phillips 66 will also nominate one director to NOVONIX’s board. “Phillips 66’s investment will provide us with the capital needed to support growth and ongoing R&D as we cont...

South Korean supplier, SK Innovation, has announced that it has decided to spin off its EV battery business line and Exploration & Production (E&P) business lines. According to a press release issued by SK Innovation on 4 August, the company stated that its Board of Directors took the decision in order to spur green growth and increase enterprise value. The approval is to take place at the extraordinary general meeting scheduled for 16 September, and the companies will officially be e...

Foxconn has purchased a chip plant from Taiwan chipmaker Macronix International for USD90.8 million, according to an official press release dated 5 August, as the electronics giant looks to make auto chips as it enters the electric vehicle (EV) market. “The acquisition of the 6-inch wafer fab in Hsinchu Science Park officially signals Foxconn’s entry into the manufacture and development of wide band gap semiconductors, especially silicon carbide (SiC), paving the way for a long-term ...

LG Chem has acquired the operations of the Chemical Electronic Material (CEM) business sector under the LG Electronics’ Business Solution Division at KRW525 billion (approximately USD456.2 million). According to a press release issued by LG Chem on 29 July, the acquisition will be for all of the tangible and intangible assets such as production facilities and personnel of the said business sector. LG Chem decided to acquire the CEM business of LG Electronics for in order to foster the batte...

French multinational oil and gas company, TotalEnergies has signed with Bolloré Group for the acquisition of ‘Blue Charge’, which is the largest electric vehicle (EV) charging network in Singapore, the company said in a press announcement on 28 July. “Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest EV charging network in Singapore, with more than 1,500 charge points installed in the city-state,” TotalEnergies said in a note. Bollor�...

American electric carmaker, Lucid Motors, has announced that it has become a publicly listed company trading on the Nasdaq Global Select Market with its Class A common stock listed under the new ticker symbol "LCID". Lucid completed the previously announced merger with Churchill Capital Corp IV, a special purpose acquisition company (SPAC) on 23 July. The combined company will now operate as Lucid Group Inc. The transaction has brought in USD4.4 billion, which the company plans to use to acce...

Israeli e-mobility startup REE Automotive has announced the completion of its merger with 10X Capital Venture Acquisition Corp. According to a press release issued by REE Auto on 22 July, the business combination was approved at a special meeting of 10X’s stockholders on 21 July and completed the next day. Following the merger, the combined company is named REE Automotive Ltd., and from 23 July onward, the company’s shares will trade on the Nasdaq under the ticker symbol ‘REE’....

German luxury car maker Mercedes-Benz has acquired the UK-based electric motor manufacturer YASA, the two companies announced on 22 July. Under the terms of the acquisition, YASA CEO Chris Harris said that the company would operate as a wholly owned subsidiary of Mercedes-Benz, developing ultra-high-performance electric motors, while retaining its own brand, team, and facilities and continuing to supply existing automotive supercar customers. YASA has been working with Mercedes-Benz sinc...

American EV charging network operator, ChargePoint, has announced that it has signed a definitive agreement to acquire has·to·be, a Netherlands-based e-mobility solutions provider. According to a press release issued by ChargePoint on 20 July, the company will acquire has·to·be for a total purchase price of approximately EUR250 million (approximately USD295 million). This acquisition is expected to close in 2021 subject to regulatory approvals and other customary closing conditions. Found...

Electric vehicle (EV) charging network provider EVgo has acquired Recargo, a leading e-mobility software company, for USD25 million in an all-cash deal, which included a USD3 million loan repayment, the company said in a press announcement on 14 July. Recargo, which is known to be a leading player in EV innovation app development, market research, data licensing, reporting, and advertising, is also one of the most utilized sources of driver-contributed EV industry data. “At EVgo, we...

Lithium-metal battery startup SES (formerly SolidEnergy Systems) has entered into a definitive agreement with special-purpose acquisition company (SPAC) Ivanhoe Capital Acquisition Corp. to list on the New York Stock Exchange (NYSE), the company said in a press announcement on 13 July. SES said that the SPAC merger was supported by strategic investors and global automakers that include General Motors (GM), Hyundai Motor Company, Kia Corporation, Geely Holding Group, SAIC Motor,...

Electric Last Mile Solutions Inc., a commercial EV company focused on last mile connectivity, has announced that shares of its common stock and warrants began trading on the Nasdaq on Monday under the new ticker symbols “ELMS” and “ELMSW”, respectively. According to a press release issued by ELMS on 28 June, the company stated that it had completed its business combination with Forum Merger III Corporation, a special purpose acquisition company (SPAC). ELMS has entered into collaborat...

Ashok Leyland’s UK-based subsidiary company Switch Mobility Ltd has acquired the entire shareholding in the electric vehicle manufacturer Switch Mobility Automotive Ltd, India, the company said in a regulatory filing on 15 June. “In view of the same, Switch Mobility Automotive Ltd, India has become a step-down subsidiary of Ashok Leyland,” it added. Besides commercial vehicles, Switch Mobility plans to develop electric vans and pods as part of its vision of urban mobility. Signifi...

Solid Power Inc., an EV battery technology and manufacturing startup backed by BMW and Ford, has announced that it will be going public by merging with Decarbonization Plus Acquisition Corp III, a special purpose acquisition company (SPAC). According to a report filed by business news agency Reuters on 15 June, the combined entity will be valued at around USD1.2 billion, and the company will be listed on the Nasdaq under the ticker symbol ‘SLDP’. The merger is expected to be completed by ...

Electric vehicle (EV) charging solutions startup, Wall Box Chargers SL has entered into an agreement with Kensington Capital Acquisition Corp. II, a special purpose acquisition company (SPAC), wherein upon closing the transaction, the combined entity will be listed on the New York Stock Exchange (NYSE), the company stated in a press release on June 9. “Upon closing of the transaction, the combined company will be named Wallbox and listed on the NYSE and trade under the new ticker symbol WBX...

BorgWarner Inc. announced that it has completed the tender offer for shares of AKASOL AG, resulting in BorgWarner owning 89.08% of AKASOL’s outstanding shares after completion of the tender offer. According to a press release issued by BorgWarner on 4 June, the company stated that this acquisition positions BorgWarner to capitalize on the fast-growing battery pack market. Headquartered in Darmstadt, Germany, AKASOL is now a majority-owned subsidiary of BorgWarner, but it will be run indepen...

Australia-based manufacturer of DC fast chargers for electric vehicles (EVs), Tritium, and a special purpose acquisition company (SPAC) called Decarbonization Plus Acquisition Corporation II (DCRN) have announced an agreement for their business combination, according to a company press release on 26 May. The merger would result in Tritium becoming a publicly listed company, with the combined company being named Tritium. The business combination is expected to generate gross proceeds in cash o...

Faurecia has completed its acquisition of mainland China-based manufacturer of hydrogen tanks CLD on 30 April 2021. CLD has about 200 employees and two plants in Liaoning with a capacity of 30,000 tanks per year. In addition, CLD has also been recently certified by the Chinese central government as the first domestic producer of Type IV hydrogen tanks. Unlike Type III tanks, which use an aluminum liner in place of a plastic one, Type IV tanks are lighter and thus better suited to mobility app...

Blink Charging, an owner, operator, and provider of EV charging equipment and services, announced that it acquired the European EV charging operator Blue Corner N.V., based in Antwerp, Belgium, and its portfolio of 7,071 charging ports. The acquisition is part of Blink’s broader strategic international expansion plans, as Blue Corner has a network that covers Belgium, Luxembourg, the Netherlands, and France. According to a press release issued by Blink Charging on 11 May, this acquisition w...