LAKE ORION, Mich. and SPRINGBORO, Ohio, Aug. 1, 2019 /PRNewswire/ — American Battery Options, Inc. (ABS), a complicated battery methods firm, introduced it has accomplished the acquisition of high-voltage manufacturing and testing belongings from Robert Bosch Battery Techniques. The acquisition initially introduced on Might 20, 2019 was closed as we speak. With the transaction accomplished, the 170,000 sq. ft. battery methods manufacturing facility and manufacturing strains in Springboro, Ohio are actually wholly owned by ABS. The important thing manufacturing personnel from the plant have additionally joined ABS as its staff.
ABS is backed by a $50 million dedicated funding from KCK Group, a principal funding agency with world workplaces in London, New York, San Francisco and Dubai. ABS brings electrified mobility battery methods to rising transportation, industrial and business markets by leveraging the workforce’s huge expertise and experience in automotive battery system growth, testing and manufacturing.
ABS is already in discussions with a number of potential prospects to develop, check and manufacture modular battery options for underserved transportation, industrial and business markets, primarily in North American and Europe, Subhash Dhar, Founder, chairman and chief govt officer of ABS said, “We’re excited to have the extremely skilled manufacturing workforce be a part of our world-class battery professionals and automotive consultants along with world-class growth and manufacturing services,” Dhar stated.
The corporate is based by KCK Group and Dhar, a longtime innovator and trade chief within the growth and commercialization of power storage. ABS management workforce embody a few of the most proficient and skilled members of the trade together with Dr. John Warner, chief buyer officer; Ivan Menjak, vp, enterprise growth and Arun Kumar, director, electronics.
“ABS will concentrate on the center of the spectrum of battery methods worth chain,” Dhar stated, “concentrating on module manufacturing, pack meeting and buyer integration.” It can work with the world’s main OEMs, system integrators and battery producers to complement and lengthen their manufacturers with a mixture of engineering, testing and manufacturing providers. The enterprise will companion with main cell suppliers, to supply quite a lot of chemistries and cell kind components to optimize every utility
Goal functions embody:
- Excessive efficiency and autonomous EVs;
- Supply vehicles, buses and utility automobiles;
- Rail and marine;
- Cell business energy;
- Materials dealing with tools; and
- Building, agriculture and mining tools.
IDTechEx, a market analysis agency, forecasts that the electrical automobile market will attain $1.1 trillion in gross sales by 2028, together with automobiles for development, agriculture & mining markets which can attain over $100bn by 2029 as the costs of lithium-ion batteries lower and allow stable enterprise circumstances in these functions. “We see an enormous enterprise alternative in these underserved segments and have acquired very constructive market suggestions since our emergence from stealth mode three months in the past” Dhar stated.
SOURCE American Battery Options, Inc.