American Lithium-Ion Battery Maker Purchases Korean Competitor
Ener1 announced on October 16th that it has acquired South Korea’s third largest lithium-ion battery cell producer, Enertech International. Ener1 is an American company that manufactures compact, high performance lithium-ion batteries designed to power hybrid and electric vehicles.
Ener1 CEO Charles Gassenheimer:
Enertech is one of the largest lithium-ion battery producers in Korea, behind only LG Chemical and Samsung. This acquisition gives us immediate scale and volume manufacturing ability, as well as an important beachhead for supplying Asian car makers [sic] that plan to use lithium-ion technology in their electric drive vehicles.
