SolarEdge Debuts into E-Mobility Market, Acquires S.M.R.E. Spa

SolarEdge Technologies, Inc has announced  that it has entered into an agreement to acquire S.M.R.E Spa (“SMRE”). Located in Italy, SMRE offers innovative integrated powertrain technology and electronics for electric vehicles.

Established in 1999 and traded on the Italian AIM (SMR.MI), SMRE has three business units: e-mobility, automated production machines and telematics software. The company has more than fifteen years of experience developing end-to-end e-mobility solutions for electric and hybrid vehicles used in motorcycles, commercial vehicles and trucks. These solutions consist of innovative high-performing powertrains with e-motor, motor drive, gearbox, battery, BMS, chargers, Vehicle Control Unit (VCU) and software for electric vehicles.

With governments and automotive manufacturers dedicated to the electrification of transportation, the global market for electric vehicles is expected by industry experts to augment from roughly one million EVs in 2018 to about 20 million per annum in 2030, with a CAGR of 30.6% from 2015 and until 2030.

“The acquisition of SMRE is another step in executing our strategy of sustainable growth by addressing an additional fast growing and technologically synergetic market while diversifying into new fields outside the solar arena," stated Guy Sella, CEO, Chairman and Founder of SolarEdge.

“SMRE’s innovative technology and experienced, successful team provides SolarEdge with fast-track access to the high-growth e-mobility market. We believe that combining SMRE’s vast experience and full powertrain technology with SolarEdge’s innovative power and battery technology, proven operational excellence and global reach, positions us to become a market leader in this important market.” Sella further added.

He also said that, “SMRE built a strong team that has developed products addressing the current and future needs of the e-mobility market,” stated Samuele Mazzini, CEO, Chairman and Founder of SMRE. “SMRE’s expertise together with SolarEdge’s successful business track record, R&D capabilities and innovative power electronics will favorably position us in the global transition to e-mobility.”