Daimler, Evonik try to sell battery JV

摘要

Germany's Daimler AG (DAI.XE) and specialty chemicals maker Evonik Industries AG are considering the sale of their once-celebrated but unprofitable battery joint venture Li-Tec, in a transaction owners hope could fetch as much as 1 billion euros (US$1.32 billion). Luxury car maker Daimler, which owns 49.9% of Li-Tec and Evonik, which holds the rest, are evaluating a sale of the Dresden-based company after an initial plan to get a third owner on board failed. Daimler said in a statement: "We are looking at different options to give Li-Tec a better long-term grounding in the very competitive global market for battery cells. We haven't made a final decision." Evonik declined to comment.