Batteries News

Paragon to Enter Electric Vehicle Battery Market in cooperation with Voltabox

paragon electric vehicle batteries

Paragon to enter electric vehicle battery market. Paragon is now planning to enter the electromobility market even with its Automotive business. With the help of the new Flow-Shape-Design (FSD) technology from its subsidiary Voltabox, a variety of lithium-ion battery systems are set to be offered for the automotive market. paragon is planning to license the FSD technology and thus help Voltabox achieve a breakthrough.

Paragon with Voltabox to enter the Electric Vehicle Battery Market

This will create significant synergies between Paragon and Voltabox for the first time. Until now, Voltabox has mainly marketed its battery systems for industrial uses and buses.

Meanwhile, the discussions on a partial sale of Voltabox shares owned by Paragon will take a few weeks longer than originally planned. As reported, Paragon GmbH & Co. KGaA and a Swiss investor group signed a letter of intent (LoI) for the acquisition of Voltabox share blocks in December of last year.

The originally envisaged transaction structure will in all likelihood be expanded; in addition to the planned investment, it is now also being negotiated that a large industrial battery manufacturer, whose shareholder is one of the Swiss investors, will enter into a comprehensive cooperation with Voltabox AG.

The basic features of the cooperation have already been agreed. Valuation issues and the financing of the transaction still need to be discussed.

✔️ Comprehensive cooperation with an industrial battery manufacturer being reviewed as part of the partial sale of Voltabox

PARAGON TO USE FSD TECHNOLOGY FROM VOLTABOX IN AUTOMOTIVE SEGMENT, March 24, 2021

batteries news

Get our LinkedIn updates!

Join our weekly newsletter!

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.