Johnson Controls, Saft to End Battery Joint Venture
MILWAUKEE -- Johnson Controls Inc. and Saft said they have reached an agreement to end their joint venture, Johnson Controls-Saft – a company they formed in 2006 to develop and manufacture lithium-ion vehicle batteries.
Johnson Controls, Saft to End Battery Joint Venture MILWAUKEE -- Johnson Controls Inc. and Saft said they have reached an agreement to end their joint venture, Johnson Controls-Saft – a company they formed in 2006 to develop and manufacture lithium-ion vehicle batteries. Under the terms of the agreement, Johnson Controls will acquire Saft's share of the company for $145 million in cash. The agreement includes an up-front royalty payment by Johnson Controls to Saft in return for an expanded license to Johnson Controls to use certain Saft Li-ion technology in all markets. The transaction, which is subject to regulatory clearances, could close as early as Sept. 30. The parties' agreement to end their relationship will also terminate all legal proceedings between the companies. Johnson Controls will retain all assets of the joint venture, with the exception of a facility in Nersac, France. That facility will be transferred to Saft at the end of 2012. Upon completion of the transaction, Johnson Controls will operate the company and fulfill the company's existing contractual agreements.
MILWAUKEE -- Johnson Controls Inc. and Saft said they have reached an agreement to end their joint venture, Johnson Controls-Saft – a company they formed in 2006 to develop and manufacture lithium-ion vehicle batteries.
Under the terms of the agreement, Johnson Controls will acquire Saft's share of the company for $145 million in cash. The agreement includes an up-front royalty payment by Johnson Controls to Saft in return for an expanded license to Johnson Controls to use certain Saft Li-ion technology in all markets. The transaction, which is subject to regulatory clearances, could close as early as Sept. 30.
The parties' agreement to end their relationship will also terminate all legal proceedings between the companies.
Johnson Controls will retain all assets of the joint venture, with the exception of a facility in Nersac, France. That facility will be transferred to Saft at the end of 2012.
Upon completion of the transaction, Johnson Controls will operate the company and fulfill the company's existing contractual agreements.
More Green Fleet
EV Charging Use Is Outpacing Infrastructure Growth
ChargePoint’s 2026 Charging Forward Report points to rising charger use, higher-powered charging, commercial vehicle electrification, and energy-management technology. Here’s what fleets should know.
Read More →
Merchants Fleet Reports 290M EV Miles as Fleets Navigate Changing Electrification Market
From millions in operating savings to hundreds of millions of EV miles, Merchants Fleet’s latest report reveals what’s working and what’s changing in fleet electrification.
Read More →
The EV Breakdown Nobody's Talking About: Why Most Electric Vehicle Roadside Calls Aren't Mechanical Failures
Here's why EV breakdowns are widely misunderstood.
Read More →
ChargePoint Now Available in Energy Pass
ChargePoint and additional planned charging network integrations were added to GM's Energy Pass.
Read More →
First Look: Slate Auto's Electric Fleet Pickup
Could an affordable, modular EV pickup make electrification more practical for fleets?
Read More →
Slate Debuts Colorful, Unique EV Models
A recent media and client event, studded with electric vehicles dressed up on platforms, planted a new position for the manufacturer in the wider EV market. Fleets will find cost-saving advantages.
Read More →
Slate Electric SUV, Pickup Switchable Model Aims For Light-Duty Fleets
Everything about this EV is counterintuitive and understated, making it stand out from the crowd.
Read More →
Inspiration Mobility Acquires Key Electrada Assets
Inspiration Mobility Group has acquired select assets of Electrada, adding the fleet electrification provider's team, technology, and charging infrastructure development capabilities to its energy management business.
Read More →
Turning Connected Vehicle Data Into Decisions That Matter
Fleet leaders have more data than ever, but turning that data into clear, actionable decisions remains a challenge. This white paper shows how leading organizations are using connected vehicle data to improve safety, reduce costs, and optimize fleet performance. Learn how to turn insight into action across your fleet.
Read More →