Electrovaya Signs MOUs with Three Companies in China for EVs and Manufacturing

Jose Michael

Lithium-ion battery maker Electrovaya has signed three MOUs with China-based firms in the areas of electric cars, trucks and manufacturing equipment.

Electrovaya signed a Memorandum of Understanding (MOU) with Chana International Corp. (ChangAn) for zero-emission electric vehicles. Chana is a leading OEM and has joint ventures with Ford, Mazda and Suzuki. As part of this MOU, Electrovaya intends to roll out 30 electric cars over the next few quarters.

ChangAn currently has the production capacity for 1 million vehicles and engines per year. By 2010, the company plans to have the production capacity for 2 million vehicles.

Electrovaya has also entered into a second MOU with GuangZhou Lange Electric Equipment Co., a specialty equipment manufacturer, for battery equipment. The MOU relates to setting up a Joint Venture to supply high quality manufacturing equipment to Electrovaya’s battery licensees.

Electrovaya entered into a third MOU with Shandong Shifeng Group Co. Ltd. for zero-emission electric vehicles for the North American and global specialty truck market. Shandong Shifeng is a specialized manufacturer of light trucks.

In October, Electrovaya annonced it was partnering with Tata Motors and Miljø Grenland/Innovasjon to manufacture batteries and electric cars in Norway, beginning in 2009, using Electrovaya’s Lithium Ion SuperPolymer battery technology. The first vehicle to be produced will be the Indica EV, based on Tata’s Indica, due to launch in Europe in 2009.
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