Tuesday, June 5, 2018

AeroVironment Sells EV Charging, Test Business To German Company For $35M

Monrovia, California-based Aerovironment, the developer of unmanned aircraft systems, has sold its other business--focused on electric vehicle charging and test systems--to a German company, Webasto Group. According to the two companies, Aerovironment sold its Efficient Energy Systems (EES) business segment to Webasto for $35M. As part of the acquisitoin, Webasto will also hire all of Aerovironment's EES employees. Webasto is based in Stockdorg, Germany, and supplies products to the automotive industry. According to Aerovironment CEO Wahid Nawabi, the divestiture will help Aerovironment focus on its small UAS, Tactical Missile Systems, High-Altitude Pseudo-Satellite, and Commercial Information Solutions businesses.

---