Sensata Deepens EV Space Presence With Lithium Balance Acquisition

by Anusuya Lahiri, Benzinga Staff Writer

February 2, 2021 6:54 PM | 1 min read

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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