In line with the transformation and change experienced by the automotive industry, San Diego-based Rhombus Energy Solutions, the first direct international investment of İnci Holding, was acquired by Michigan-based BorgWarner, one of the world's leading companies in its field, producing future-oriented solutions for the automotive industry.

İnci Holding, one of the well-established companies of Turkey, made its first direct investment abroad in 2020 by purchasing the minority shares of San Diego-based Rhombus Energy Solutions technology company in the Series C investment tour with Emerald Technology Ventures, Cycle Capital Management, Nabtesco Technology Ventures and Greenhouse Capital Partners. İnci Holding; announced that after the agreement signed last week and the closing, Rhombus was acquired by Michigan-based BorgWarner, which produces future solutions for the automotive industry, with a valuation of 185 million USD.

A leader in its field in the rapidly growing global market, Rhombus is known for its expertise in high-power smart inverters and chargers designed for V2G-enabled electric vehicles, and offers special charging systems, energy storage and microgrid solutions for electric commercial vehicle fleets. Its acquisition by BorgWarner, which has extensive activities in electric vehicle development, will further accelerate the commissioning of charging solutions for electric vehicle fleets developed by Rhombus.

In his statement on the subject, İnci Holding CEO and Member of the Board of Directors, Zeki Şafak Ozan, said: we are proud. In the coming period, we will continue to create value by investing in developing technologies that will create synergy, as in the example of Rhombus, in the focus areas we have defined in line with our vision, as well as growing with investments in our main fields of activity.”

About Rhombus Energy Solutions: Rhombus develops and manufactures next-generation bidirectional EV charging infrastructure, highly efficient power conversion systems, and energy management systems (EMS) software for vehicle-to-grid (V2G) EV fleet charging, energy storage and microgrid applications. . As a result of decades of experience, UL-1741-SA offers reliable solutions for developing high-power systems and a variety of applications, including system-to-grid solutions. rhombusenergysolutions.com

About BorgWarner: For over 130 years, BorgWarner has been a transformative global leader, delivering successful mobility innovation to its market. Today, it accelerates the world's transition to emobility to help build a cleaner, healthier and safer future for all. www.borgwarner.com