- The acquisition will enable a reinforced supply chain, reliable operations, strengthened manufacturing and team expansion for a faster global EV transition, Ion Energy claims.
- The deal will begin with the purchase of 51% of Ion Energy's arm, Maxwell Energy System for $17.5 million after which the 49% will be acquired in stages over the next five years, the company claims.
- Maxwell Energy System is an electronic system that monitors the state of charge and health of a battery to ensure protection.
- The subsidiary supplies over 70 vehicle makers and battery pack makers in 15 countries including the US, Spain, France, and India.
The biggest venture capital deals we tracked by region during the past week across emerging markets globally.
We tracked more than 30 tech funding deals across emerging markets worth over $1.5 billion, with companies in Africa and Asia alone raising over $1 billion.
This week on The Draft, we curated startup and VC deals across emerging markets and covered India's cybersecurity market, China's plan for AI, blockchain, and robotics, and Russia's latest efforts on cryptocurrency.