The machine builder Manz is aware Daimler Truck a new anchor shareholder. The truck manufacturer is participating in the company as part of a capital increase of around 10 percent of the share capital, Manz announced on Monday in Reutlingen. After the deal has been approved by the authorities, Daimler Truck will acquire the new shares at a price of EUR 39.53 each. The mechanical engineering company, which manufactures production systems for lithium-ion batteries, intends to use the proceeds of 30.6 million euros to finance further growth.
A strategic partnership has been sealed to set up a pilot line for the production of lithium-ion cells and battery assembly at the Daimler plant in Mannheim. The future partners will pool their know-how to jointly develop innovative battery technology and the associated production processes for trucks and buses. the Manz share
increased by almost 20 percent to 43.90 euros in the afternoon, papers from Daimler trucks
traded 0.5 percent higher.
“The partnership between Daimler Truck and Manz forms a key cornerstone of our battery strategy,” said Daimler Truck Board Member Andreas Gorbach (47). The company claims to be the innovation leader in the commercial vehicle industry. For this it is essential to have battery cells that meet the special requirements in trucks and buses.
The world market leader for heavy trucks wants to develop an electric truck platform by the end of 2024. The mechanical engineering company Manz is the ideal partner for Daimler’s strategy in the electrification of commercial vehicles, explained Manz boss Martin Drasch. Manz has decades of experience in battery technology and expertise for such large-scale projects.