Daimler Truck acquires a stake in Manz
Manz AG has gained a strong cooperation partner and new anchor shareholder in Daimler Truck AG. The German auto-giant invested in Manz AG as part of a capital increase and now holds approximately 10% of the company's share capital.
The proceeds of the capital increase in the amount of EUR 30.6 million will be used to finance Manz further growth. In addition, both companies have signed a cooperation agreement on a strategic partnership to establish a pilot line for the production of lithium-ion battery cells and the assembly of batteries at Daimler Truck's Mannheim location.
"The strategic cooperation with Daimler Truck as one of the world's largest commercial vehicle manufacturers reflects our strong position as an innovation driver and technology leader in the field of lithium-ion battery production," says Martin Drasch, CEO of Manz AG in a press release.
Manz's goal is to develop and manufacture highly efficient machines and processes for the fully automated production of next-generation lithium-ion batteries together with customers in the 'Lithium Battery Factory of the Future'.
In the so-called "InnoLab Battery" at the Mercedes-Benz Mannheim plant proprietary lithium-ion battery cells will be developed in the future, as well as produced on a pilot line and assembled into complete battery systems. Over 60 new systems will be set up in the coming months in the InnoLab, which covers an area of around 10,000 square meters. By the end of 2024, the research findings will be incorporated into the development of Daimler Truck's battery-electric product platform.
"The partnership between Daimler Truck and Manz forms an essential cornerstone of our battery strategy. We aim to be the innovation leader in the commercial vehicle industry. To do so, it is fundamental to have battery cells that meet the extremely specific requirements in trucks and buses," says Dr. Andreas Gorbach, Member of the Management of Daimler Truck Holding AG, in the press release.