TORONTO, ONTARIO--(Marketwire - March 24, 2010) - Electrovaya Inc. (TSX:EFL) today announced that it has been chosen by Chrysler Group LLC as the battery supplier for 140 Ram plug-in hybrid electric vehicles in a demonstration program.
The Ram PHEV will feature a 12kWh lithium ion battery from Electrovaya. A total of 140 Ram PHEVs will be built for a demonstration program running for a period of three years at various geographic and climatic locations across the US. More than 21 Chrysler Group partners across the U.S., including utility companies, government agencies and Universities will independently test the Ram PHEV and provide valuable data for the advancement of the technology.
"Chrysler Group's decision to choose Electrovaya as a battery supplier for this program is an important validation of our technology and our unique and zero-emission, NMP-free manufacturing process," added Dr. Sankar DasGupta, Electrovaya CEO. "This collaboration represents a key milestone achievement for Electrovaya and we look forward to working with Chrysler Group. We are confident that we are well-positioned to capitalize on the vast opportunities that lie ahead in the electric vehicle market."
The DOE-supported programs are an important enabler for key suppliers to understand and test customer acceptance and the capability of PHEV systems in real-world conditions.
About Electrovaya Inc.:
Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean transportation, smart grid power, consumer and healthcare markets. The Company's mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe. To learn more about how Electrovaya is powering mobility, please explore www.electrovaya.com.
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