-+undefined NaN%
-+undefined NaN%
-+undefined NaN%

Caterpillar Invests In Lithium-ion Battery Pack Maker Lithos Energy -- MarketWatch

MarketWatch · 01/06/2023 08:11
For more from MarketWatch: http://www.marketwatch.com/newsviewer

Caterpillar Inc. (CAT) said Friday it has invested in Lithos Energy Inc., a San Francisco-based designer and maker of lithium-ion battery packs. Lithos specializes in making shock-resistant and high-performance batteries used in off-road and marine applications. Financial terms of the investment were not disclosed. "Cat equipment -- regardless of its power source -- is designed to operate in the most demanding conditions," said Joe Creed, group president of Caterpillar's Energy & Transportation business. "Lithos' experience manufacturing battery packs for similarly demanding environments will be an asset as we continue our electrified product development." Caterpillar's stock, which fell 0.7% in premarket trading, has run up 34.4% over the past three months through Thursday, while the Dow Jones Industrial Average has gained 10.0%.

-Tomi Kilgore

(END) Dow Jones Newswires

January 06, 2023 08:11 ET (13:11 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.