Daimler buys electric car battery activities from Evonik

FRANKFURT Tue Apr 1, 2014 4:31am EDT

A emergency exit sign is pictured above a logo of German car manufacturer Daimler AG, before the annual news conference in Stuttgart February 18, 2010. REUTERS/Johannes Eisele

A emergency exit sign is pictured above a logo of German car manufacturer Daimler AG, before the annual news conference in Stuttgart February 18, 2010.

Credit: Reuters/Johannes Eisele

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FRANKFURT (Reuters) - German carmaker Daimler (DAIGn.DE) is taking over stakes in two battery cell producers from Evonik (EVKn.DE), making Daimler the sole owner of both companies.

Daimler said in a statement on Tuesday it will acquire a 50.1 percent interest in Li-Tec Battery GmbH and a 10 percent stake in Deutsche Accumotive GmbH & Co. KG to expand its lithium-ion activities.

The companies declined to disclose financial details.

(Reporting by Kirsti Knolle; Editing by Jonathan Gould)

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