Daimler buys out electric stakes from Evonik image

Two companies that were until now run in partnership with Evonik will see Daimler as the sole owner, as the German automaker extends its interest into electric car battery technologies.

Daimler will buy out all of Evonik Industries AG shares held in Li-Tec Battery GmbH (50.1 %) and in Deutsche ACCUmotive GmbH & Co. KG (10 %) in a transaction behind closed doors.

Harald Kröger, Head of Development at Mercedes-Benz Cars Electrics/Electronics, explained: “Along the value chain for drive-system batteries with lithium-ion technology, we now have the two most important components: the production of battery cells and the related development and production of highly complex drive-system batteries as a combination of cells and battery electronics. In this way, we secure not only expertise in electric mobility, but also the sites in Kamenz and Kirchheim/Teck.”

Li-Tec Battery GmbH is based in Kamenz, close to Dresden, it has a staff of around 380 people and develops, produces and distributes large lithium-ion battery cells – currently used in the smart fortwo electric drive.

Deutsche ACCUmotive came to life in 2009 and made Daimler among the automakers that develops batteries for automotive applications – starting production in Germany since 2012.