Chinese battery giant makes undisclosed investment in UK firm DBS Energy
UK battery supplier DBS Energy has accepted an undisclosed investment sum from Chinese lead battery giant Leoch, the firm announced on January 12. The company is now called DBS Leoch.
In a short announcement, the company said an agreement had been reached that would “help the new company, DBS Leoch, to significantly grow its business and become one of the leading suppliers of batteries to industrial sectors in the UK”.
DBS Energy, based in Leicestershire, says it has been supplying Leoch batteries to the UK market for seven years.
Managing director of DBS Leoch Henry James (pictured) said the agreement confirmed the Chinese company’s commitment to expanding in the UK battery market.
In December 2016, the Chinese firm forecast massive growth in battery sales, particularly in the automotive sector, which it said would rise in number from 146 million units in 2015 to 407 million by 2025.
The prime driver would be stop-start batteries, the company predicted, which would increase in sales from 20.4 million units to three times that figure, 61.8 million, in the same time scale.
Leoch, which is listed on the Hong Kong Stock Exchange, makes and sells all categories of lead-acid batteries. It has eight production bases, in China, Malaysia, Sri Lanka and India.