Mercedes-Benz announced on Thursday that it has acquired YASA Limited, a British manufacturer of electric motors and motor controllers which spun off from Oxford University in 2009.

Mercedes and YASA, which has been working with the German carmaker for the past 2 years, haven't disclosed the details of the deal yet.

Earlier this month, the German company unveiled that its sales of plug-in-hybrids and all-electric cars soared 305% in the year's first half.