Ener1 Acquires Leading Korean Lithium-ion Battery Cell Producer

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ener1-logo_1Ener1 announced it has agreed to acquire an 83% interest in Enertech International, one of South Korea's leading lithium-ion battery cell producers. The purchase follows the recent announcement of the company's plans to expand the manufacturing capacity of its lithium-ion automotive battery subsidiary, EnerDel, based in Indiana.

The acquisition is intended to both 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 Ener1 CEO Charles Gassenheimer. "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."

Enertech is one of just a handful of companies that specializes in producing large format flat (or "prismatic") cells, which Ener1 believes offer significant performance and manufacturing advantages over more common cylindrical designs. The company operates a 200,000-square-foot, state-of-the-art plant outside Seoul capable of producing cells for 15,000 electric vehicle battery packs per year. Enertech has also worked with EnerDel to supply cells for prototype and preproduction systems for Think Global.

(Source: Ener1)

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