Sensata Deepens EV Space Presence With Lithium Balance Acquisition
- Sensata Technologies (NYSE: ST) has acquired Denmark’s Lithium Balance, advancing its electrification business following higher demand for clean energy. The financial terms of the acquisition remain undisclosed.
- Lithium Balance’s Battery Management System technologies for lithium-ion batteries, including its XOLTA brand of fully modular, cloud-connected energy storage systems, further strengthens Sensata electrification business and strategy.
- This, along with the previous acquisition of Gigavac in 2018, will consolidate the company’s position in the promising EV market.
- Sensata had a closing cash and cash equivalent balance of $1.86 billion for the year ended December 31.
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