Clarios to acquire Paragon ‘s battery unit.
Clarios, the global leader in manufacturing and recycling advanced, low-voltage networks and batteries, will purchase Paragon GmbH & Co. KGaA’s power business that produces batteries and battery management systems for the automobile industry. Clarios is the parent company of VARTA® Automotive, a leading transportation battery brand in Europe.
Mark Wallace, Clarios CEO said:
The low-voltage network is critical to the new user experiences, data collection methods and power system transformation underway in vehicles.
“Paragon’s team has the skills, culture and commitment to add new capabilities that will accelerate our partnership with key OE customers, especially around advanced Li-Ion programs.”
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Paragon’s engineering team’s expertise and leadership with projects with global OE customers complements the Clarios team’s current low-voltage and li-ion programs. The acquisition significantly increases Clarios’ engineering team that is dedicated to the development of new low-voltage architectures at the company.
Federico Morales Zimmermann, vice president and GM, Global Customers, Products and Engineering at Clarios said:
Paragon’s team and capabilities strengthen our resources in Europe and globally as we develop a systems-based approach to low voltage networks.
“I’m confident our new colleagues will help us accelerate the electrification and digitalization of new vehicles, to create new user experiences, exploit and capture data, and to power new systems-based architectures.”
Clarios will share additional information on how this acquisition fits with a long-term vision for low-voltage vehicle architecture during the IAA Mobility Conference in Munich, Germany, in September.
Details of the transaction were not disclosed.
ABOUT CLARIOS:
Clarios is the world leader in advanced, low-voltage architecture and batteries that power one in three vehicles globally. The company’s 16,000 employees in over 100 countries, are focused on partnering with Aftermarket and OEM customers to deliver the systems, solutions and services to support the energy transition underway with vehicles.
Clarios is committed sustainability and operational excellence and currently recovers, recycles and reuses up to 99% of its battery materials. The company is a subsidiary of Brookfield Business Partners.
READ the latest Batteries News shaping the battery market
Clarios to acquire Paragon’s battery unit, HANOVER, Germany, August 30, 2023
