Strategic Investment in Battery and Fuel Cell Technology
Freudenberg Acquires Majority Stakeholding in Xalt Energy
Freudenberg Sealing Technologies, Weinheim, Germany, has been the majority shareholder of Xalt Energy, Midland, MI/USA, since the start of 2019. This company develops and produces lithium-ion technologies for energy storage solutions in the commercial vehicle industry. Freudenberg has held 31.8% of the company since March 2018. The Group has now increased its share to 50.1%.
This allows for both expansion of production capacity in Midland for serial production and investment in the research and development of new mobility technologies. Freudenberg has also secured the option of acquiring all remaining shares in XALT Energy over the coming years.
According to Dr. Mohsen Sohi, CEO of the Freudenberg Group, taking over the industrial leadership of Xalt Energy is another step towards forward-looking innovations for electric motor and fuel cell power trains for the future.
Cooperation with US Automotive Industry
Xalt Energy specializes in lithium-ion technologies for high energy/ high performance storage technologies in the logistics, railroads, maritime, industrial and automotive industries and is working with several automotive manufacturers as part of the U.S. Advanced Battery Consortium LLC, which includes Fiat Chrysler Automobiles, Ford Motor Co. and General Motors Corp. (GM). The highly automated, clean-room production facilities in Midland cover an area of over 40,000 m2 and are used to manufacture lithium-ion battery cells, packs and modules along with associated controls and software. The company also has a research and development laboratory in Pontiac, MI/USA.
The Freudenberg strategy foresees both further investment in materials and components for combustion engines to further reduce friction, weight and emissions, while also guaranteeing a longer operating life and safer operating conditions.
Freudenberg Sealing Technologies GmbH & Co. KG
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