Valence Technology, Inc just announced that it has signed a supply agreement to provide EVI with batteries for their electric trucks. The companies announced the deal at the Grand Opening Ceremony for EVI’s new Stockton, California plant.
In a press release, Robert L. Kanode, President and CEO of Valence Technology, commented on the deal:
“The Valence U-Charge energy storage systems offers EVI the flexibility to offer three distinctive electric trucks from class 4 (15,000 lbs) to class 6 (25,950 lbs). Customers also have the flexibility to select specific operating ranges from 60 to 115 miles to fulfill their specific service needs. We are pleased to offer EVI the safety, flexibility, reliability and freedom to sell their superior product in 20 countries with Valence Technology`s extensive patent estate. EVI`s abuse testing of the U-Charge system has validated the safety, reliability and continuous delivery of energy throughout an extended life that EVI commercial customers demand. Therefore, we are pleased to offer EVI and their customers a 5-year warranty on our battery systems.”
Isn’t this just announcing a supply agreement with themselves? The same majority stockholder owns both companies! Whatever happened to responsible journalism instead of just reprinting misleading press releases?
Oh, and what supplier is the second source? What? No alternative supplier?
Carl Berg indeed has interests in both companies so the relationship is a natural fit. I don’t think the release was misleading at all given it was stated at the bottom that Carl Berg is a principle shareholder in both companies. Would the news have more teeth to it if it were a bigger supplier with no relationship to Berg? Absolutely. As for questioning the value of this site and the integrity .. there’s always the back button. A ton of work goes into providing this free service and most appreciate it.