Danionics enters joint venture with Chinese battery giant  

The Danish battery manufacturer enters JV with GP Batteries International, one of the world's biggest battery manufacturers

Danish battery manufacturer Danionics has entered a joint venture with the Chinese company GP Batteries International, one of the world's biggest battery manufacturers. Danionics says the agreement comes into force 30 April provided that the JV is approved at the company's General Meeting on 22 April. The aim of the cooperation is to exploit China's low wages and bring the price of Danionics batteries down. It is anticipated that production costs can be reduced by 30-45%.


Danionics will contribute to the joint venture with extensive knowledge in batteries for laptop PCs as well as putting all company assets into the project including production equipment and its customer base. GP Batteries International is giving DKK 61 million (USD 9.8 million) to the joint venture and takes over Danionics' debts and obligations to the workforce. The news is reported by national newspaper Berlingske Tidende and financial newspaper Børsen online.


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