Britishvolt is a company in clear technological progress and with large vehicle manufacturers interested in its work and business method. Now, the company specializing in the manufacture and development of batteries for electric cars, has been done with the German company EAS Batteries, which is dedicated to the same purpose. The acquisition has been made effective by the income of an economic amount of 36 million euros to Monbat, the until now owner of said company.
This agreement, for the moment, has only closed its public announcement while regulatory approval is still pending, according to the Britishvolt board, who hope to have this acquisition closed in the coming days. The terms of purchase and conditions of each company have already been signed and agreed, so only the aforementioned approval is pending.
The EAS company, which is based in Nordhausen, Germany, is a specialist (like Britishvolt) in the development and manufacture of battery cells for electric cars; however, his point about this sector goes a step further and focus their interest on large-format lithium-ion cells for use in automobiles employing nickel-rich eLNO cathode chemistry. This technology presents an innovative character thanks to a very compact design and very focused on high-performance electric vehicles. This makes its manufacturing and business method ideal in favor of Britishvolt battery cells with great autonomy and also focused on being implanted on high-performance electrics.
From Britishvolt they assure that this acquisition will allow to speed up the final phase of the development of its current battery cells, as well as its own manufacturing and subsequent marketing. It has been the executive director Orral Nadjari himself who has released the official statement of the aforementioned acquisition, who has also recognized that EAS is positioned at a point of clear advantage over other competitors in the segment. Faced with this, Nadjari assured that now, under the umbrella of Britishvolt, the German company will receive additional economic investments to favor and accelerate its future joint projects.
Let us remember that at the beginning of last March, Britishvolt closed an agreement with Aston Martin through which it undertook to position itself as official supplier of battery packs for upcoming electric models of the English company. In parallel, they have also achieved outstanding agreements with other brands such as Lotus and its rebirth as a fully electric firm. With these two seals of trust, the trio of English brands signed their union in this regard.
It is for this reason, due to the high growth that Britishvolt is experiencing in recent months, that it will be vital to rely on a company dedicated and specialized in the same technological sectorwho will help in the mass manufacturing and development of new battery cells for the British, who are already positioned as one of the emerging companies with the greatest international projection within the electric automobile sector for the coming years.