Deutz Buys Battery Company
By Roberta Prandi09 October 2019
Deutz AG announced another acquisition in the market of electric mobility: battery specialist Futavis GmbH.
The Germany-based company was founded in 2013 and employs around 30 people. It has expertise in electronics, software, battery technology, battery testing, and functional safety engineering.
This acquisition will strengthen Deutz in its E-Deutz strategy for what concerns high-voltage battery technology and management.
This follows the acquisition of electric drive specialist Torqeedo in 2017 and Deutz’ CEO, Dr. Frank Hiller, thus commented this further step: “Battery technology is a vitally important element of our E-Deutz strategy, which we will be further expanding with the Futavis acquisition. With Futavis adding to the strong systems expertise of our Deutz and Torqeedo development teams by contributing its knowledge of components for high-voltage batteries, battery management systems, and safety engineering, we are taking the next step towards CO2 free off-highway-mobility.”
The purchase price of the Futavis acquisition has not been disclosed by the parties.