DEUTZ invests in battery specialist Futavis
DEUTZ AG has closed its purchase of Futavis GmbH, a development service provider for battery management hardware and software. The purchase of Futavis GmbH enables DEUTZ AG to incorporate batteries, a crucial core component, in its electrification strategy.
Futavis has extensive technical expertise in electronics, software, battery technology, and battery testing and in ensuring functional safety. The systems knowledge of DEUTZ subsidiary Torqeedo in the area of electric drives will thus be supplemented with high-voltage battery technology.
Futavis GmbH has developed and implemented numerous systems for customers in the automotive and commercial vehicle sectors. Founded in Alsdorf in 2013, the company employs around 30 people and is aiming to generate revenue of more than EUR5 million (US$5.5 million) in 2019.
The parties have agreed not to disclose the purchase price.
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