By Komatsu and Volvo scramble for batteries as electric transition looms
TOKYO — Major construction equipment companies are using acquisitions to secure battery supplies, preparing for an electric pivot as the industry faces mounting pressure to decarbonize.
Komatsu on Monday announced an agreement to buy American Battery Solutions, which develops and manufactures lithium-ion batteries for commercial and industrial vehicles. The acquisition, the value of which was not disclosed, will let the Japanese company develop batteries tailored to its construction and mining gear.
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