Daimler, Evonik Form Partnership To Develop Lithium Ion Battery

December 21, 2008 by Jeff Shepard

Daimler AG, a manufacturer of passenger cars and commercial vehicles, revealed that it has established a strategic alliance with Evonik Industries AG to research, develop and produce lithium-ion batteries.

Making use of lithium-ion technology from Evonik and Daimler’s expertise, the two companies intend to develop new battery cells and battery systems in Germany. Evonik has invested around €80 million in the project. Cells from Evonik subsidiary Li-Tec will be fitted in electric vehicles of Mercedes-Benz Cars in the undisclosed "near future.".

Daimler acquired 49.9% of Li-Tec Vermogensverwaltung GmbH (Li-Tec) on December 15th. The two partners are also looking for a third shareholder in Li-Tec with expertise in electrical and electronic systems integration.