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US tech giant buys into Danish battery firm

Sensata Technologies injects DKK 21 million (EUR 2.81 million) into Danish battery company Lithium Balance and now holds a 24 percent stake. The deal will help open new doors to the global EV market, tells CEO Lars Barkler.

We met with them for first time at an exhibition a few years back, and they have since assessed us in a pure technological sense. This led to them contacted us last year before summer vacation to hear if they would be able to invest," says Lithium Balance CEO Lars Barkler after news emerged that Sensata bought into the battery firm. | Photo: Valdemar Jørgensen / Jyllands-Posten / Ritzau Scanpix/Jyllands-Posten

A process that has lasted 13 months officially pans out into a deal Wednesday. Sensata Technologies, one the world's leading companies within sensor and operating system technology, has purchased a stake in Danish battery firm Lithium Balance.

US-based Sensata booked USD 2.95 billion in revenue last year and has now invested DKK 21 million (EUR 2.81 million) in Lithium Balance. This capital will play a role in allowing the battery maker to introduce its products into more EVs around the world.

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