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Evonik and Daimler Create Lithium-ion Battery JV

December 17, 2008 | Vincent Valk

Evonik and Daimler say they have formed a joint venture for the R&D and manufacture of lithium-ion batteries for use in automobiles, trucks, and buses. Daimler will purchase a 49.9% stake in Li-Tec Vermogensverwaltung (Li-Tec), which is 50.1% owned by Evonik. The companies say they are seeking a third shareholder in Li-Tec with expertise in electrical and electronic systems integration.   The companies say they will also form a separate jv focused on lithium-ion automotive batteries; Daimler will own 90% of this, and Evonik the remainder. The second jv...

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