Dow Kokam Acquires French Battery Pack Maker SVE
DETROIT -- Lithium-ion battery maker Dow Kokam has purchased battery pack maker Société de Véhicles Electriques in a deal that will help the company compete for new business in the auto industry, by giving it capabilities to provide complete battery systems.
Dow Kokam, the Midland, Mich.-based joint venture of Dow Chemical Co. and TK Advanced Battery LLC, already has lithium-ion cell manufacturing capabilities at a small facility in Lee’s Summit, Mo., and is building a 500,000 square foot plant in Midland for large-scale production.
The acquisition of SVE from France’s Groupe Industriel Marcel Dassault, will add in-house abilities in battery pack production to Dow Kokam’s existing expertise. SVE will become a subsidiary of Dow Kokam while Paris-based Groupe Dassault becomes a minority stake holder in Dow Kokam through the acquisition.
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