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Evonik quits Li-ion JV’s

7:22 AM MDT | May 9, 2014

Evonik Industries and automaker Daimler say they are restructuring their activities in the area of electric mobility. Daimler will acquire all of the shares held by Evonik in Li-Tec Battery (Kamenz, Germany) and in Deutsche ACCUmotive (Kirchheim/Teck, Germany), making Daimler sole owner of the companies, Evonik says. Evonik held 50.1% and 10% of the shares in Li-Tec Battery and Deutsche ACCUmotive, respectively. Daimler and Evonik developed the production of lithium-ion battery cells for electric vehicles together at Kamenz. Evonik says it plans to focus on its...

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