All data are based on the daily closing price as of May 24, 2024

Komatsu to Acquire American Battery Solutions, Advancing Global Electrification in Heavy Equipment

Komatsu, a leader in heavy equipment, is set to acquire American Battery Solutions (ABS), accelerating electrification in industrial and commercial vehicles globally
Japan
k 6301.TSE Blue Chip 150
Share this on

Leading heavy equipment manufacturer Komatsu has unveiled plans to acquire American Battery Solutions (ABS), a prominent player in advanced lithium-ion battery design, development, and manufacturing. While the financial details remain undisclosed, Komatsu anticipates finalizing the acquisition upon completion of all requisite closing procedures.

Subhash Dhar, Founder and CEO of ABS, expressed enthusiasm about joining the Komatsu family, emphasizing the strategic partnership’s potential to position ABS as a key player in the global electrification of industrial equipment and commercial vehicles. The acquisition is viewed as a testament to ABS’s intellectual and manufacturing prowess developed over four years, with acknowledgment extended to initial investors, KCK Group.

This development follows ABS’s recent launch of a new transit bus battery pack for New Flyer Industries and the securing of long-term supply agreements with leaders in critical market segments. The acquisition underscores ABS’s progress and robust standing in the advanced battery market.

ABS is poised to maintain support for its existing customer base while expanding efforts into off-highway, commercial vehicle, and industrial electrification. The company intends to capitalize on the burgeoning global battery systems market, aligning with Komatsu’s commitment to developing advanced energy storage systems for its next-generation electrified equipment.

Taisuke Kusaba, CTO and President of Development Division at Komatsu, highlighted ABS’s standout qualities, including a skilled team, technical expertise, business breadth, and battery manufacturing proficiency for heavy-duty markets. ABS, with nearly 200 employees headquartered in Lake Orion, Michigan, and manufacturing facilities in Springboro, Ohio, will operate independently under Komatsu’s ownership, maintaining its existing management team. The acquisition is expected to open new markets for ABS products while aligning with Komatsu’s dedication to supporting ABS’s current and future customers.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top