Cobasys, after being offered for sale by its previous owners for over two years has, finally been sold. Energy conversion Devices and Chevron had jointly owned the battery which supplied the energy storage system for the EV1 (pictured) as well as the nickel metal hydride batteries for GM's mild hybrids. The company is now owned by SB Li Motive which is the battery joint venture formed last year by Bosch and Samsung. SB LiMotive was formed to develop lithium ion batteries for automotive applications and plans to start producing cells in 2010.

The German Korean company will integrate Cobasys as the North American branch of the company. Later this year, Cobasys will begin supplying batteries to the new Mercedes ML450 hybrid. The sale price has not been disclosed.

[Source: Reuters]
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