Britishvolt buys German battery cell maker EAS for 36 million euros

div classBodysc17zpet90 cdBBJodivpBy Nick Careyp

pLONDON Reuters – Electric vehicle EV battery startup Britishvolt said on Tuesday it will buy German battery cell developer and manufacturer EAS from Bulgarias Monbat for 36 million euros 38.6 million to help it scale up its own production. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe deal is subject to regulatory approval, Britishvolt said. p

pThe startup said Nordhausen, Germanybased EAS is a “pioneer in developing and producing large format lithiumion cells using innovative and compact electrode production technology” ideally suited for its own highperformance, longrange “46xx” battery cell format.p

p“The acquisition of EAS will allow us to scale up the final part of the 46xx cell development and commercialization,” CEO Orral Nadjari said in a statement, adding Britishvolt aimed to make additional investments in EAS.p

pBritishvolt is working with British sports carmakers Aston Martin and Lotus to develop highperformance EV batteries.p

pBritishvolt has secured UK government backing for a battery plant project in northern England, unlocking 1.7 billion pounds 2.12 billion in private funding.p

p1 0.9335 eurosp

p1 0.8007 poundsp

p

pp Reporting by Nick Carey editing by Jason Neelyp

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