Electrovaya Inc., has announced that it has signed a contract to supply Chrysler with Lithium Ion SuperPolymer® battery systems for 25 Town and Country minivans that will be part of a demonstration fleet of Plug-In Hybrid Electric Vehicles (PHEVs) that Chrysler Group LLC has developed in partnership with the United States Department of Energy.
The 25 Chrysler minivans will join a fleet of 140 Ram 1500 pickup trucks that will be deployed to 12 partners including local municipalities, state governments, universities and energy companies across the United States. The minivan contract is the second major PHEV automotive platform for Electrovaya's Lithium Ion SuperPolymer® batteries and follows the Ram PHEV platform.
Electrovaya is both the cell and battery pack supplier for the minivan. Its proprietary Lithium Ion SuperPolymer® cell technology is produced using Electrovaya's unique non toxic NMP-free process. Electrovaya's battery pack for the minivan consists of its large format Lithium Ion SuperPolymer® cells, proprietary thermal and battery management systems and all necessary subsystems.
About Electrovaya Inc.
Electrovaya Inc. designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean electric transportation, Utility Scale Energy Storage and smart grid power, consumer and healthcare markets. The Company's mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. The Company's other mission is to deliver Utility Scale Energy Storage Systems for the highest efficiency in electricity storage, whether the electricity is generated from intermittent wind and solar power or from other sources. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe. To learn more about how Electrovaya is powering mobility.
About Chrysler Group LLC
Chrysler Group LLC is a multinational automaker headquartered in the Detroit suburb of Auburn Hills, Michigan. Chrysler was first organized as the Chrysler Corporation in 1925.
Forward looking statements
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relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties", as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Source: Electrovaya Inc.