BorgWarner acquires German battery maker Akasol

Acquisition helps expand BorgWarner’s capabilities in fast-growing CV and off-highway battery pack market.

Autocar Professional BureauBy Autocar Professional Bureau calendar 06 Jun 2021 Views icon5598 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
BorgWarner acquires German battery maker Akasol

BorgWarner Inc has completed the tender offer for shares of Akasol AG, resulting in BorgWarner owning 89.08% of Akasol’s outstanding shares. With this, Akasol becomes a majority-owned subsidiary of BorgWarner.

Akasol, which is headquartered in Darmstadt, Germany, will be run independently. The acquisition further strengthens BorgWarner’s commercial vehicle and industrial electrification capabilities, which positions the company to capitalise on what it believes to be a fast-growing battery pack market.


“We are excited to add Akasol’s innovative products, capabilities and team to BorgWarner as we advance our plan to grow our electric vehicle businesses to approximately 45% of total revenues by 2030 under Project Charging Forward,” said Frederic Lissalde, President and CEO of BorgWarner. “Our companies share a commitment to delivering innovative, environmentally friendly solutions to our global customers, and together, we’ll be even better positioned to do just that.” 

 

RELATED ARTICLES
Hyundai unveils next−gen highly efficient hybrid system

auther Autocar Professional Bureau calendar22 Apr 2025

The next-gen hybrid system is claimed to offer 45% better fuel efficiency and 19% more power compared with ICE powertrai...

Horse Powertrain reveals hybrid conversion for electric cars

auther Autocar Professional Bureau calendar19 Apr 2025

Engine-making joint venture of Geely and the Renault Group announces new hybrid powertrain that fits into the same space...

Aisin to produce hybrid motor for Mitsubishi in Thailand

auther Autocar Professional Bureau calendar06 Apr 2025

The hybrid drive motor and gearbox, will be produced at Aisin Powertrain (Thailand) Co for use in the Mitsubishi XForce ...