Sandvik Mining and Rock Technology has acquiredArtisan Vehicle Systems in a bid to strengthen its position in the market of battery electric vehicle (EV) solutions.
Atisan, a US manufacturer, provides battery powered underground mining equipment, including battery packs, electric motors, power electronics and software control systems.
Mats Eriksson, president load and haul division, Sandvik, says: “The area in which Artisan is located is a frontrunner in electric vehicle development. Our new R&D foothold there will complement the skillset we have in Finland.”
The transaction is expected to close during the first quarter of 2019.