German supplier ElringKlinger is planning to move into the automotive batteries market.

Chairman Stefan Wolf told Autonobilwoche that the company is considering whether lithium-ion batteries could open up new opportunities for the company.

"I can see good reasons for our own high-tech products. We are even looking at conventional high performance batteries," the manager said.

ElfringKlinger is currently aiming for 5-7% growth, said Wolf, and a profit of more than EUR55m. It is hoping to grow mainly through acquisition and is looking for companies with a turnover of between EUR30m and EUR200m. In addition to battery companies it is looking at lightweight plastics and new future-oriented segments, added Wolf.