Daimler and Evonik restructure lithium-ion activities

Daimler AG and Evonik Industries AG are restructuring their activities in the field of electric mobility in Kamenz and Kirchheim/Teck, and are thus reflecting the changed market conditions. Daimler will acquire all of the shares held by Evonik in Li-Tec Battery GmbH (50.1
per cent) and in Deutsche ACCUmotive GmbH & Co. KG (10 per cent). This will make Daimler the sole owner of the two companies. The parties have agreed not to divulge the details of the agreement.

In recent years, Daimler and Evonik have together developed the industrial series production of lithium-ion battery cells for electric vehicles in Kamenz. In line with its systematic focus on specialty chemicals, Evonik had been seeking new perspectives for its lithium-ion business.

"The agreement creates important opportunities for Germany as an industrial location in an international environment of intense competition for realizing electric mobility as the drive system of the future. In this way, Evonik and Daimler have found a good solution," said Thomas Hermann, Head of Corporate Development at Evonik Industries.

Harald Kroger, Head of Development at Mercedes-Benz Cars Electrics/Electronics, added, "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."

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