Johnson Matthey sells battery systems business to Cummins
Source - SMW
Johnson Matthey confirmed that Cummins had acquired its UK automotive battery systems business, for an undisclosed sum.
The business specialises in high-voltage automotive grade battery systems for electric and hybrid vehicles.
As part of the acquisition, Cummins and Johnson Matthey also agreed to collaborate on the development of high-energy battery materials for commercial heavy duty-applications.
At 1:17pm: (LON:JMAT) Johnson Matthey PLC share price was +62.5p at 3370.5p