Johnson Matthey Battery Systems

In 2006, Axeon, as a software company, began working with MPower, a manufacturer producing batteries for mobile phones and portable products. MPower was working on a battery to be used in electric vehicles and the Battery Management System, the software that monitors the lithium-ion cells, interfaces with the vehicle and ensures safety, was provided by Axeon. In 2007, Axeon merged with Mpower.

In 2008, Axeon acquired Ristma AG, a Swiss holding company whose constituent companies also had several decades of experience in battery design and manufacture. The trading companies, formerly EMB GmbH and SAT AG, design and sell battery packs for the professional power tool market and Robert Bosch GmbH is a key customer. They also manufacture battery packs for a range of mobile applications, including medical and industrial monitoring equipment, and leisure equipment such as electric bicycles and powered golf trolleys. Manufacturing is carried out at a facility in Poland, formerly MAZ Sp.Z.o.o.

In 2009 Axeon was forced into administration by its major lender and 20% shareholder Ironshield Capital Management LLP with no notice and following its assurance of continued support and that Axeon's future was bright. Ironshield appointed Grant Thornton who failed to find a buyer after they "discreetly marketed" the company. Almost immediately Ironshield formed a new vehicle "AG Holdings" which acquired Axeon outright allowing Axeon to continue in business as normal, excepting the shareholders who were wiped out through the move. Following its acquisition AG Holdings reported that Axeon had a very bright future.

In October 2012 Axeon was acquired in total by Johnson Matthey, a British multinational chemicals and precious metals company headquartered in London, United Kingdom, which is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Axeon rebranded as Johnson Matthey Battery Systems in August 2013.

In January 2018, Johnson Matthey Battery Systems was acquired by Cummins.

Plug-in hybrid electric vehicles

Johnson Matthey Battery Systems has worked with McLaren Automotive to develop an advanced lithium-ion battery for the McLaren P1, a limited production plug-in hybrid supercar. Power for the vehicle's electric motor is stored in a 324-cell lithium-ion high density battery pack located behind the cabin. The battery pack is liquid-cooled and the Battery Management System incorporates active cell balancing.

Range-extended electric hybrid vehicles

Jaguar Land Rover displayed the ultra-low carbon XJ_e plug-in hybrid engineering research vehicle at the Goodwood Festival of Speed in June 2012. This was the outcome of a project led by Jaguar Cars to develop a range-extended electric hybrid vehicle, and is powered by an Axeon lithium-ion battery.

In October 2011 Axeon announced that it would also supply two prototype batteries to Intelligent Energy for a UK Technology Strategy Board (TSB)-grant-assisted project to develop a concept for a lightweight, low emissions, range extended electric delivery van. This vehicle was launched in June 2012.

Electric vehicles

At the 2011 Geneva Motor Show, Rolls-Royce Motor Cars unveiled its new 102EX Phantom Experimental Electric, which is powered by a battery from Axeon. The battery system is believed to be the biggest passenger car battery built in the world, both in terms of capacity and power, with 71kWh overall capacity and 388V DC nominal power. The power pack is expected to deliver a range of up to 200 km with a 0-60 mph acceleration time of under 8 seconds. The batteries can be recharged via a plug in cable or in eight hours by using a wireless induction charging system.