Battery venture buys Cobasys
Automotive News reports on SB LiMotive's purchase of Cobasys, a move to increase battery production for electric vehicles.
DETROIT--SB LiMotive, an electric-vehicle battery joint venture between Germany's Robert Bosch GmbH and South Korea's Samsung SDI, is acquiring U.S. battery maker Cobasys, according to a Reuters report.
Details, including the value of the deal, were not disclosed when the acquisition became public this month.
Energy Conversion Devices and Chevron owned Cobasys, of suburban Detroit, which makes nickel-metal hydride batteries for hybrid-electric vehicles.
SB LiMotive makes lithium ion batteries and works with Bosch to make electrified power train systems.
(Source: Automotive News)