In 2020, Akasol posted a loss of € 12.3 million – twice what it was in 2019, even though the battery manufacturer was already running a large deficit. On the other hand, the company’s outlook is positive for this year.
On the one hand, Akasol is confident that it will continue the significant growth it achieved in the second half of last year, and on the other hand, the acquisition of BorgWarner could improve its position as well.
As previously reported by autopro.hu, BorgWarner is planning to acquire Akasol. Among the deal of € 730 million, Akasol expects to be able to enter new markets, which will also lead to an improvement in its business balance.
Despite last year’s loss, Akasol can be said to have achieved its goal: the company achieved sales of between 60 and 70 million euros, of which 68.3 million euros are ample. Sven Schultz, the company’s president, added, of course, that they were expecting a better year in early 2020, but the pandemic has overtaken their calculations.
The company can look forward to good years
Interestingly, the majority of its revenue – 50.1 million euros – was generated by the battery manufacturer in the second half of last year, which could definitely be a good sign for this year.
Akasol manufactures batteries for large commercial vehicles as well as for ships and other heavy machinery. As a result, the company also has huge plants in the United States and Germany, which see special potential in the electrification of large vehicles, according to Automobilwoche.