Total S.A. and Saft Groupe S.A. Announce Proposed Acquisition
Oil giant Total S.A. on May 9th filed an acquisition offer on all of Saft Groupe S.A. shares with French Financial Markets Authority, upon mutual agreement between the two companies.
Saft is a well-known battery maker. It is a major supplier of nickel-based and primary lithium batteries for industrial use. Its products include lithium-ion batteries and packs as well.
The proposal values Saft at €950 million (or $1.07 billion), which reflects a 38.3% premium over Saft’s recent share price.
This transaction further represents Total’s plan to invest on renewable energy technologies. In 2011, Total acquired solar panel manufacturer SunPower.
BMW to Launch i NEXT Flagship Vehicle in 2021
The Verge reported that BMW will expand i product lineup and launch i NEXT vehicle in 2021. The news came from comments made by BMW chairman Harald Kruger during the company’s 96th Annual General Meeting.
New i NEXT will be the flagship of BMW, an “innovation driver” setting standards for electromobility technologies in the future. The car will be the platform for new autonomous driving, connectivity, lightweight and interior look.
Moreover, new-generation i3 with 50% more capacity (94 Ah cell) and up to 200 km range will be available in a few weeks. i8 Roadster is confirmed for 2018 launch.
Tesla is Still Finalizing Model 3 Design
Reuters reported on May 10th that Tesla still has not finalized its Model 3 design yet. Tesla’s CEO Elon Musk mentioned during a conference call that the design freeze would need another 6-9 weeks.
Model 3 delivery is expected to start in late 2017 and the company’s production capacity will ramp up to 500,000 units per year by 2018.
There have been some personnel changes recently. Former Audi veteran Peter Hochholdinger joined Tesla as VP of vehicle production, following the departure of Tesla’s previous VPs for production and manufacturing.