BorgWarner to purchase Rhombus
BorgWarner knocks twice: the acquisition of Rhombus and the delivery of AKASOL battery system to a European truck manufacturer
At the beginning of August 2022 BorgWarner Inc. today announced that it has acquired Rhombus Energy Solutions.
BorgWarner and Rhombus. Together to the electric galaxy
Headquartered in San Diego, California, Rhombus offers V2G and Underwriters Laboratory-certified charging. Rhombus supplies its patented technology to EV OEMs, including Proterra, and charging and grid service providers. The transaction has an enterprise value of up to $185 million, which is being funded primarily with cash balances. Approximately $130 million was delivered at closing and up to $55 million could be paid in the form of contingent payments over the next 3 years.
“The technology that Rhombus brings expands BorgWarner’s electric vehicle portfolio in North America and complements our existing European charging business. This transaction supports our Charging Forward strategy and strengthens our electric vehicle positioning as we look to power the entire propulsion system from grid to wheels,” said Frédéric Lissalde, President and CEO of BorgWarner. “As a supplier to the automotive and commercial vehicle markets, we are not only delivering innovative technology for electric drivetrains, but we are also focused on supporting certain key elements of the infrastructure for electric mobility, including charging.”
And, again, the deal for delivering battery system for electric commercial vehicle
BorgWarner’s AKASOL ultra-high energy battery system has been selected by a European manufacturer to power its first range of heavy-duty electric trucks. Series production of the 4×2 rigid axle, 18-ton truck and 6×2 rigid, 26-ton truck is scheduled to begin in the first quarter of 2024.
BORGWARNER & AKASOL: WE TELL YOU THE HAPPY END
“We’ve previously worked with this manufacturer on high-voltage prototype vehicles using an earlier version of our battery system and are proud to continue our partnership together,” said Henk Vanthournout, Vice President BorgWarner Global Battery and Charging Systems. “For this exciting new project, the customer benefits from the latest generation of our ultra-high energy battery system, which provides a 50% increase in energy density over its predecessor. This upgrade increases vehicle range significantly, making it the ideal solution for long-distance electrified commercial transportation.”
Up to 747 volts
Developed for energy-intensive electric drivetrain applications operating at up to 747 volts, each 9 AKM battery pack stores 98 kWh of energy and comes ready to install with all connectors. Three packs will be used to supply 294 kWh to power the 4×2 truck and four packs to provide 392 kWh to the 6×2 truck. The battery is compact and lightweight to maximize vehicle payload and has an estimated life expectancy of up to 4,000 cycles to keep the total cost of electrified commercial vehicle (eCV) ownership as low as possible. Additionally, liquid cooling and multi-level protection systems ensure safe operation. BorgWarner’s Multi String Manager (MSM+) is supplied with the ultra-high energy battery packs, serving as a single communication interface to the vehicle control unit and reducing the need for software development by the customer.
