BorgWarner president and CEO, Frédéric Lissalde, has attended the opening of Akasol’s gigafactory 1, Europe’s largest site for commercial-vehicle battery systems, located in Darmstadt, Germany.
The gigafactory 1 campus has a two-level production, assembly and logistics hall with a test and validation centre for the evaluation of cells, modules and systems.
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A 600 kWp solar plant feeds the production facility and offices as well as the German State of Hesse’s largest charging-station park for electric vehicles, featuring more than 60 charging stations.
In February, 2021, BorgWarner announced an agreement to acquire Akasol, in support of plans to expand its electrification portfolio. The tender offer process was completed on 4 June, 2021.
BorgWarner’s current equity stake is 93% and the company plans to eventually achieve 100% ownership by mid-2022.
In March, 2021, the company unveiled Project Charging Forward at its virtual Investor Relations Day. The initiative aims to accelerate BorgWarner’s electrification strategy and grow its revenue from electric vehicles to 45% of total revenue by 2030.
The plan includes three pillars:
- Profitably scaling electric light vehicles both organically and inorganically
- Expanding into electric commercial vehicles organically and inorganically
- Optimising the company’s combustion portfolio
Akasol represents 20% to 25% of inorganic sales underlying Project Charging Forward.
“Akasol Kasol is at the forefront of battery-pack technology and BorgWarner is among the world leaders in most of the products we produce,” said Lissalde.
“This is the case for electronics and battery thermal management. Together, we will realise product synergies that will create value for our customers and growth.”
