Electrovaya Inc. (TSX:EFL) today announced that it is accelerating the set-up of its joint-venture production facility in Norway with its partner Miljøbil Grenland based on robust demand.
The Miljøbil Grenland joint venture, of which Electrovaya is a shareholder, is establishing a Lithium Ion SuperPolymer® cell and battery pack manufacturing facility in Norway to meet the emerging demands of electric vehicles, including the Tata Motors Indica EV. Tata Motors is also a shareholder in this joint venture. This battery production facility will feature Electrovaya's unique zero-emission production process technology, which exceeds all European Union as well as stringent Norwegian environmental regulations.
"We are working closely with Electrovaya to set-up our Norwegian production to meet the European cell demand for the years 2010 to 2012" comments Miljøbil Grenland CEO Ivar Brynhildsvoll. "Electrovaya's superior energy density and large format pouched cell technology are core competitive strengths. In addition, its unique clean production process is ideally suited to our goals of clean transportation. We will be visiting Electrovaya next week to accelerate our plant build-out to meet our rapidly growing and immediate production needs."
Dr. Sankar DasGupta, CEO of Electrovaya adds "We are taking steps to increase our production capabilities to meet the larger than anticipated requirements of Miljøbil Grenland and our other customers. We look forward to their visit next week."
Electrovaya (TSX:EFL) is a developer and manufacturer of its proprietary Lithium Ion SuperPolymer® battery systems. Electrovaya's mission is to accelerate clean transportation as a commercial reality with its advanced power systems for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. Further, it is focused on other large-format emerging markets such as stationary power. It also offers battery-related consumer products primarily for the healthcare market. For more information about the Company and its products, please visit our website at www.electrovaya.com.
About Miljøbil Grenland:
Miljøbil Grenland was founded in 1997 and is based in Porsgrunn, Norway. Miljøbil Grenland intends to become a leading European supplier of electric vehicles based on their patented battery pack. Tata Motors European Technical Centre Plc (UK) is its' majority shareholder. For more information about the Company and its products, please visit our website at www.miljobil.no