Yanmar completed the acquisition of a majority stake in ELEO Technologies.

Yanmar, an operator of mechanical products manufacturing businesses, completed the acquisition of a majority stake in ELEO Technologies, a manufacturer and developer of modular battery systems. Financial terms were not disclosed. “We are thrilled to partner with Yanmar. Yanmar’s leading position, premium brand reputation, global network and decades-long experience in off-road applications and ELEO’s advanced modular battery systems are a perfect match to accelerate the adoption of electrified powertrain solutions worldwide," Bas Verkaik, ELEO Co-Founder.