Komatsu aims to complete acquisition of US electric vehicle (EV) battery manufacturer American Battery Solutions (ABS) by early December to accelerate its expansion into the global zero emissions vehicle market.
ABS manufactures a wide range of lithium ion battery systems for on and off road vehicles, including trucks and buses, industrial and special vehicles as well as energy storage systems. The company, which supplies standard and custom products to its customers, claims its in house technology and expertise allow it to design and produce high performance battery packs with extended product life and increased safety.
Komatsu is a global manufacturer of vehicles and heavy equipment for the construction, mining, forestry and heavy industrial sectors. Its US subsidiary, Komatsu America, said it expects to “close” the deal to acquire ABS by 1 December if all necessary procedures are completed.
The acquisition will allow Komatsu to fully develop and produce a broad range of battery powered vehicles in house, starting with mining vehicles for North and South America where demand for electrification is rising rapidly. Ultimately Komatsu aims to develop a full range of battery powered equipment and vehicles.
Komatsu said it would support the US company’s existing battery business following the acquisition with ABS expected to continue to strengthen its position as a stand alone company. Komatsu will also enable ABS to establish a strong presence in key sectors such as mining and construction equipment.
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The Japanese company said it aims to achieve a 50% reduction of CO2 emissions in its products by 2030 from 2010 levels and is targeting carbon neutral by 2050.