ADVIK, a Pune-based automotive component manufacturer, has acquired business assets of Aceleron Energy Ltd., a UK-based advanced Li-ion battery company, marking its entry into the electric vehicle and EV storage systems space.
The acquisition expands ADVIK’s product range and customer base, aiming to enhance the development of next-gen energy storage solutions, the press release noted. Managed through its UK subsidiary Advik Technologies Limited, the acquisition integrates Li-Ion battery technology into ADVIK’s portfolio.
Aditya Bhartia, Managing Director of ADVIK said that the acquisition not only brings patented technology but also adds testing and prototyping facilities in the UK, complementing the company’s existing network across 10 plants.
With annual sales of more than 100 million USD, the group offers an extensive portfolio of products like Pumps: Oil Pump, Water Pumps and Vacuum Pumps, 2W Hydraulic Brake Systems, Valves & Actuators: HVAC actuators, Throttle body assembly, Purge Valves, Reed Valves, Secondary Air Injection Valves, Thermal Management System Valves, EGR, Cam Chain Tensioners, Alternate Fuel System: CNG regulator & CNG systems. The company serves automotive customers globally.