Tag Archives: Lithium Batteries

Ener1 (HEV) Announces $40 Million Deal With Russian Company For Utility Storage Systems

Ener1 (HEV) is announcing a significant contract with the Russian Federal Grid Company to co-develop utility scale lithium battery storage systems.  The initial phase of the $40 million contract is already underway and focuses on grid integration of emergency power back up systems in economically critical areas.  The Russian government is spending billions to upgrade its electrical infrastructure ahead of the Winter Games in 2014, so this may be the first of a few contracts … Read the rest

A123 Systems’ (AONE) Lithium Ion Automotive Battery Plant Open In Michigan

It’s been a little over a year since A123 Systems received a $249 million grant from the DOE, and today the company announced the grand opening of its Livonia, Michigan lithium-ion battery plant. The plant is the largest lithium-ion battery manufacturing facility in North America, and is expected to boost the company’s manufacturing capacity by up to 600MW hours annually. The opening of the new plant puts A123 on target to achieve its annual cell … Read the rest

Altair Nanotechnologies (ALTI) Signs Long Term Lithium Battery Deal With Proterra For Electric Buses

Altair Nanotechnologies (ALTI) could use some good news.  With its stock trading at 40 cents a share, it’s on the verge of extinction.  Today it got some.  The company signed a long term lithium battery supply deal with Proterra for their hybrid and electric buses, allowing the buses to recharge in 10 minutes.

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The two companies have partnered in the past and this purchase order … Read the rest

Ener1 (HEV) Signs MOU With Russian Federal Grid Company

Ener1 just announced that it has signed a memorandum of understanding with Russia’s Federal Grid Company.  Per the MOU, the two companies will work together to develop high-performance battery systems to help support Russia’s aging grid, which is expected to experience unprecedented demand in the years to come.

The MOU is part of a $15 billion effort by Federal Grid Company to modernize its power grid.

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Johnson Controls (JCI) Expands Chinese Battery Production

According to Reuters, Johnson Controls just announced that it will increase its Chinese production of car starter batteries to 30 million per year by 2015. To fuel this increased output, Johnson Controls expects to build 3 or 4 more plants.

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Alex Molinaroli, president of Johnson Controls’ power solutions unit, says that industry shakeout will likely occur as supply for hybrid/electric car batteries exceeds demand. He … Read the rest

Ener1 (HEV) Gets China Battery Joint Venture Deal, $65 Million Equity Investment

I’ve been in vacation mode in recent days so haven’t been keeping up with all the news, but Ener1 (HEV) announced last week that it landed a JV deal with China’s top auto parts company, Wanxiang.  HEV will begin producing lithium battery systems for Wanxiang this year for an existing backlog of customers.  This is a great opportunity for Ener1 as it opens up the China market to them.  Traders cheered the news, sending the … Read the rest

Valence (VLNC) Signs Supply Agreement With Optare Worth Up to $3.8M

Valence Technology just announced that it has signed a supply agreement with Optare PLC. The 3-year, exclusive supply agreement makes Valence the exclusive battery supplier for the Optare Solo EV zero-emissions electric bus. The agreement is expected to generate up to $3.8 million in battery sales for Valence.

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In a press release, Robert L. Kanode, president and CEO, Valence Technology, commented on the news:

“This appointment … Read the rest

A123 Systems (AONE) Gets Multi Year Lithium Battery Supply Deal With Fisker

Now we know why EnerDel and Fisker broke off discussions about working together.  Fisker wanted to work with A123 Systems (AONE).  This morning the companies announced a multi year deal in which A123 will supply the lithium batteries for the Fisker Karma to be launched later this year.  The relationship won’t end there.  A123 will also invest as much as $23 million in Fisker and collaborate on the Fisker Nina, which is the all … Read the rest

Valence Technology (VLNC) Surges Back Above Buck On $3 Million Battery Order

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

Kandi Technologies (KNDI) Forms Electric Vehicle Partnership To Speed Adoption In China

Kandi Technologies (KNDI) is surging about 15% in premarket trading today after announcing it has formed a strategic alliance with China Potevio/CNOOC New Energy and Power (aka “Alliance For Chinese Electric Vehicle Development and Commercialization”) to speed up the commercialization and adoption of electric cars in China. 

Kandi which specializes in the manufacturing of electric vehicles and other non traditional vehicles spearheaded the new alliance and has support of the government.  CEO Xiaoming Hu commented, … Read the rest