Valence Technology (VLNC) could use some good news. It’s been trading under a buck now for nearly three months. It got some after the bell today with the announcement of a $13 million order from Smith Electric Vehicles for the U-Charge lithium phosphate energy storage solutions which will be used in Smith electric trucks through the end of the year. Smith is the nation’s top manufacturer of electric commercial trucks with its Newton line.
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Valence Technologies (VLNC) surged back above a buck today on a $3.1 million lithium battery order from Smith Electric Vehicles.. now if the company could just get an order from a company other than Smith, then I’ll get interested. Valence provides both batteries and charging systems to Smith Electric for both the Smith Edison and Smith Newton electric vehicles which are apparently big in Europe.. just like the Hoff (David Hasselhoff that is 🙂 Delivery … Read the rest
Valence Technology (VLNC) announced this morning that it received a $1.4 million order from Smith Electric Vehicles for its U-Charge lithium battery systems to be shipped in the latter half of next year. Smith is ramping up production of its Newton electric truck line at the Kansas City plant to meet demand for next year.
VLNC is up about 10% on the news, but well off the morning highs. It’s trying to find support around … Read the rest