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Posted: October 14, 2008
Electrovaya Launches Electric Car and Battery Production in Norway
(Nanowerk News) Electrovaya today announced it is partnering with Tata Motors and Miljo Grenland/Innovasjon to manufacture batteries and electric cars in Norway, beginning 2009, using Electrovaya's proprietary and award winning Lithium Ion SuperPolymer® battery technology.
Tata Motors' UK subsidiary, Tata Motors European Technical Centre plc, holds 50.3% of the equity of Miljo.
As its technology partner, Electrovaya receives equity in Miljo, a technology license fee and a royalty based on the value of its proprietary Lithium Ion SuperPolymer® batteries used in the electric cars.
In addition to manufacturing state-of-the-art Lithium Ion SuperPolymer® batteries and the development of related technologies, Miljo will produce electric vehicles based on Tata Motors' products. The first such vehicle will be the Indica EV, which is scheduled for launch in Europe during 2009. The Indica EV will be a practical option for the consumer: capable of carrying 4 people, adequate luggage space, with a predicted range of up to 200 km and acceleration of 0-60 kmph in under 10 seconds.
About Electrovaya Inc.
Electrovaya is a world leader in the design, development and manufacture 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. Electrovaya also offers battery-related consumer products primarily focused on the healthcare market. For more information about the Company and its products, please visit our website at www.electrovaya.com.