TORONTO, Jan. 27 /PRNewswire/ - Electrovaya Inc. (TSX: EFL) today announced that Chrysler's Ram Truck Plug-in Hybrid Electric Vehicle (PHEV), equipped with Electrovaya's 12 kWh Lithium Ion SuperPolymer® Battery System, is being showcased in public for the first time at the Washington D.C. Auto Show Jan. 27- Feb. 6.
Electrovaya was selected by Chrysler as a key supplier partner for the RAM Plug-in Hybrid development, which was initiated last year as part of the American Recovery and Reinvestment Act DOE Vehicle Electrification Program. The RAM Truck is one of Chrysler's top selling vehicles and the Plug-in Hybrid Electric version (powered by both battery and gasoline) is a full-size truck with Advanced Technology Partial Zero Emissions capability and is able to travel up to 20 miles on electricity only. Delivery of the PHEV Ram trucks is expected to begin this summer.
"Electrovaya's battery system not only provides exceptional performance from a high energy and power perspective, but boasts a clean manufacturing process that will appeal to environmentally conscious consumers," notes Bruce Coventry, Vice President of Operations at Electrovaya. "The superior energy density of the Electrovaya technology also allows for a small battery footprint in the vehicle while delivering high performance."
Electrovaya's 12 kWh Lithium Ion SuperPolymer® Battery System features the company's proprietary battery technology, battery management system and complete mechanical, thermal, electrical and electronic subsystems. Electrovaya's battery technology is manufactured in North America and is uniquely distinguished by its clean, non-toxic manufacturing process supported by over 150 patents.
Electrovaya Inc. (TSX:EFL) 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, please explore www.electrovaya.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that 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.