New York, New York – U.S. battery developer and manufacturer Ener1 will purchase an 83 per cent interest in Enertech International, one of South Korea’s leading lithium-ion battery cell producers. The purchase follows the recent announcement by Ener1 to expand the manufacturing capacity of its lithium-ion automotive battery subsidiary EnerDel, based in Indiana.
The acquisition is intended to broaden and expand Ener1’s production capabilities at a time when automakers worldwide are preparing to launch a new generation of hybrid and electric vehicles.
“Enertech is one of the largest lithium-ion battery producers in Korea, behind only LG Chemical and Samsung,” said Charles Gassenheimer, Ener1 CEO. “This acquisition gives us immediate scale and volume manufacturing ability, as well as an important beachhead for supplying Asian car makers that plan to use lithium-ion technology in their electric drive vehicles.”
Gassenheimer said the acquisition is expected to provide immediate synergies, and add expertise from Enertech’s engineering team to help accelerate expansion of the Indiana plant.