Freudenberg, a supplier of emission-neutral energy systems for heavy-duty applications, is acquiring 49.9 percent of the outstanding membership units of the joint venture from partner MBP Investors, an affiliate of Townsend Ventures. Financial terms were not disclosed.
Freudenberg previously acquired a majority stake in XALT Energy in 2019. The company develops and produces lithium-ion battery cells and fully integrated battery packs for the commercial vehicle and maritime industries.
Following the transaction, the company will become the sole owner of U.S. battery manufacturer XALT Energy.
