Yanmar takes control of ELEO Technologies BV
Yanmar Holdings Group, through its Netherlands-based subsidiary Yanmar Europe BV, announced that it has acquired a majority stake in battery manufacturer ELEO Technologies. The company, based in Helmond, the Netherlands, becomes part of the Yanmar Power Technology division. Its managers and founders, Bas Verkaik, Jeroen Bleker and Bram van Diggelen, remain with the company and will be supported by Yanmar executives. It retains its independence and production site. Financial details of the transaction are not disclosed.
Accelerating the supply of electric motors
The acquisition will enable Yanmar to develop its offer in the direction of electric propulsion, which has already begun in the land sector where the Japanese group has a strong presence in construction, agriculture and tools. It will be able to offer a complete chain integrating the modular batteries developed by ELEO. Adaptations for the recreational sector will most likely be considered. "Yanmar is committed to offering electric powertrain solutions that enable our customers to adopt zero-emission technology without compromising their productivity. The investment in ELEO gives us the opportunity to adopt a highly innovative technology that has been designed for the harsh conditions in which our end-users work," said Tomohisa Tao, President of Yanmar Power Technology.
The latest in a long line of transactions, this latest one is further proof that traditional combustion engine manufacturers are becoming aware of the shift to electric power and the need for them to master the entire electric chain.
