German luxury carmaker Mercedes Benz has officially launched a dedicated energy division, focusing on its range of lithium-ion storage battery systems, following a series of related announcements including tie-ups with inverter maker SMA.
An impending €950 million (US$1.07 billion) acquisition of battery manufacturer Saft will enable French oil major Total to “span the value chain” and exploit synergies with EV and solar markets, an energy market expert has said.