The newly founded company, American Battery Solutions (ABS), which claims to be worth 50 million dollars, is announcing its arrival. ABS has signed a purchase agreement with Robert Bosch Battery Systems for test and production equipment and will take over the assembly plant of the Bosch subsidiary in Springboro, Ohio as well.
American Battery Solutions emerged from engineering, testing and manufacturing services enabled by an agreement to acquire of high-voltage manufacturing and testing assets from Robert Bosch Battery Systems. The terms of the sale will not be disclosed.
Under the proposed agreement with Robert Bosch Battery Systems, ABS will acquire the testing lab assets and will lease 40,000 sq. ft. space for prototype battery pack assembly and offices located in Lake Orion, Michigan. Also, ABS will acquire 172,000 sq. ft. facility located in Springboro, Ohio, where Robert Bosch Battery Systems has assembled lithium-ion battery packs for use in the automotive industry since 2009.
ABS is backed by a $50-million committed investment from KCK Group, a principal investment firm with offices in London, New York, Bay Area and Dubai.
ABS will develop, design, test and manufacture modular battery solutions for underserved transportation, industrial and commercial markets, primarily in North American and Europe, according to Subhash Dhar, Founder, chairman and chief executive officer of ABS.
With “underserved” the company means batteries for high performance and autonomous EVs as well as heavy- and medium-duty vehicles. Moreover, the company is planning to look into rail and marine applications as well as heavy construction and mining equipment.
Here, the company plans to “focus on the middle of the spectrum of battery systems value chain, concentrating on module production, pack assembly and customer integration,” according to founder Dahr.
ABS says it will work with OEMs, system integrators and battery manufacturers, offering a combination of engineering, testing and manufacturing services. The venture will rely on mayor cell suppliers to deliver a variety of chemistries and cell forms. The start of production has not been disclosed.