Dow Kokam Acquires Societe de Vehicles Electriques to Expand Energy Storage Solutions for the Automotive Industry
Acquisition Brings Together Dow Kokam Cells and Pack-Ready Solutions for Electric and Hybrid Vehicles
DETROIT, Jan. 12 /PRNewswire/ -- Today, at the 2010 North American International Auto Show (NAIAS), Dow Kokam announced it has acquired Societe de Vehicles Electriques (SVE), a wholly-owned subsidiary of the France-based Groupe Industriel Marcel Dassault (Dassault) that develops high-performance battery and energy management systems.
In this transaction, SVE becomes a French subsidiary of Dow Kokam, and Dassault becomes a shareholder. The union expands the capabilities of Dow Kokam -- manufacturer of advanced batteries -- from cell manufacture through to pack assembly and battery management systems for the automotive industry.
"Pairing SVE's energy management capabilities, which have been developed and proven-in-use through a unique road-test program over a distance of 1 million kilometers, with Dow Kokam's proven lithium ion cell technology, makes Dow Kokam the most proven battery supplier for high performance energy solutions in hybrid and electric vehicles," said Ravi Shanker, President and Chief Executive Officer, Dow Kokam. "Dow Kokam, as a leading cell manufacturer, is focused on developing and supplying solutions to its customers to accelerate electrification of vehicles and is now capable of providing all of the essential elements for long-term, commercially-viable energy storage programs in the automotive industry."
Notwithstanding its acquisition of SVE, Dow Kokam will continue to work in close collaboration with pack designers and producers working with Dow Kokam cells and will expand the network of pack producers wishing to work with Dow Kokam cells for electric vehicle programs.
Dow Kokam's proven expertise in chemical materials, superior battery technology, innovative engineering process design, and the capacity to scale up manufacturing quickly, and SVE's liquid-cooled high-performance battery packs and energy management systems, provide a complete and competitive energy source for the transportation industry enabling Dow Kokam to offer its customer a broad array of solutions; from cells to design of complete electric power trains.
"Together, Dow Kokam and SVE bring the power of superior technology in both cell and battery systems manufacturing, as well as global scale and size," said Jean-François Herchin, Chief Executive Officer, SVE. "This partnership marks a significant increase in the supply capability of advanced, vehicle-ready, battery systems, will help expand the international market for electric vehicles, and brings to Dow Kokam the Dassault culture of technological excellence as well as an immediate footprint in Europe, which strategically addresses this rapidly-growing EV market."
In October 2009, Dow Kokam received a $161 million Grant from the U.S. Department of Energy to develop a manufacturing facility in Midland, Michigan for hybrid and electric vehicle battery technology.
SVE has been working with South Korean-based Kokam Company Ltd. under a Joint Development Agreement since 2008 and has developed CLEANBAT™, a proprietary and patented battery system technology that delivers superior performance, reliability and safety of lithium-ion batteries with efficient liquid-cooled thermal management and high precision electronics.
About Societe de Vehicles Electriques
Created in 2002 by Groupe Industriel Marcel Dassault (Dassault), Societe de Vehicles Electriques (SVE) has designed, developed and marketed under the CLEANOVA™ brand, high performance lithium-ion battery and energy management systems for electric vehicles.
SVE has built an extensive road test program for vehicles equipped with lithium-ion electric traction systems. Taking advantage of its experience in electric vehicles and plug-in hybrid electric vehicles, and Dassault's expertise in systems integration, SVE designed a unique water-cooled battery system which takes into account both lithium-ion technology capabilities and automotive requirements.
About Dow Kokam
Dow Kokam was established in 2009 to develop and manufacture advanced energy storage technologies for the transportation and other industries. Dassault joins The Dow Chemical Company and TK Advanced Battery LLC as owners of the company.
Dow Kokam brings technologically advanced and economically viable battery solutions to the U.S. automotive industry. Dow Kokam represents the first battery manufacturer to combine the viable, scalable technology, market franchise, manufacturing expertise and market knowledge necessary to become the clear partner of choice for automakers and suppliers.
About Groupe Industriel Marcel Dassault
Groupe Industriel Marcel Dassault (Dassault) is the holding company of the Dassault Group. Dassault develops competencies in diversified sectors such as Aeronautics (owning a 50,55% stake in Dassault Aviation ), 3D software (43,65% of Dassault Systemes), electronic system integration, media (99,73% of Le Figaro) and real estate. Innovation minded, Dassault invests in high technology sectors to constantly grow its technological advance.
SOURCE Dow Kokam
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