Clarios to acquire Paragon's battery unit
31 August 2023
Clarios, the worldwide leader in manufacturing and recycling advanced low-voltage networks and batteries, has announced its acquisition of Paragon GmbH & Co. KGaA's power business, which specializes in producing batteries and battery management systems for the automotive industry. Clarios is the parent company of VARTA® Automotive, a prominent transportation battery brand in Europe.
Mark Wallace, CEO of Clarios, emphasized the critical role of the low-voltage network in the ongoing transformation of vehicles, including new user experiences, data collection methods, and power system advancements. He expressed confidence in Paragon's team, stating that their expertise and commitment will enhance Clarios' capabilities and partnerships with key original equipment (OE) customers, particularly in advanced Li-Ion programs.
The acquisition will significantly bolster Clarios' engineering team, strengthening their position in the development of innovative low-voltage architectures. The expertise and leadership demonstrated by Paragon's engineering team in collaboration with global OE customers align well with Clarios' existing low-voltage and Li-Ion programs.
Federico Morales Zimmermann, Vice President and GM of Global Customers, Products, and Engineering at Clarios, highlighted how Paragon's capabilities will enhance Clarios' resources in Europe and globally. He expressed confidence that the new collaboration will accelerate the electrification and digitalization of new vehicles, resulting in novel user experiences, data utilization, and advanced system-based architectures.
Further details about the acquisition and its alignment with Clarios' long-term vision for low-voltage vehicle architecture will be presented during the IAA Mobility Conference in Munich, Germany, in September.