Ener1 (HEV) Acquired 83% Interest in Korean Lithium Ion Battery Maker

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11:54:52 am on October 20, 2008

Late last week, Ener1 (HEV) announced it has acquired an 83% interest in Enertech International, one of South Korea’s leading lithium ion battery cell producer.  It’s intended to broaden Ener1’s production capabilities to  take advantage of the global shift to more fuel efficient automobiles.

“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.”

Here’s a good article over at Seeking Alpha, discussing the latest news in the energy storage sector:

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