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March 12, 2008 – Vol. 12 No. 51 Valence Technology Expanding to Meet Anticipated Demand for Lithium Phosphate Battery Packs. By March 31, 2009, Valence plans to have in place an expanded manufacturing capacity of $35 million to $50 million per quarter to support anticipated product sales. Valence believes it can achieve gross margins of approximately 30 percent of revenue with operating profit from 17 percent to 20 percent of revenue. “Increasing our capacity to manufacture additional battery systems will assure we have the capability to fulfill the anticipated demand we believe to be building in our sales pipeline,” said Robert L. Kanode, CEO and president of Valence Technology. “And, with operational full service fulfillment centers in Europe, North America and China we are ready to provide the service and support our customers need.”
Valence recently secured an agreement with Tanfield Group Plc of the UK that will result in the purchase of up to $70 million lithium phosphate batteries during the first phase of the contract to power zero emission, all-electric commercial delivery vehicles. The Valence battery systems are being installed in leading-edge vans and trucks produced by Tanfield’s UK-based trading division, Smith Electric Vehicles, the world’s largest manufacturer of electric vans and trucks. Valence Technology developed and markets the industry's first commercially available, safe, large-format family of lithium phosphate rechargeable batteries. (3/11/08)
Links: Valence Technology Smith Electric Vehicles
Related: Valence Technology to Supply Lithium Phosphate Battery Packs Toyota Prius Plug-In Hybrid Conversion. Smith Electric Vehicles to Use Lithium Phosphate Battery Packs From Valence Technology. Electric Trucks, Ready to Roll. Enova: Deliveries of Electric Drive Systems to Tanfield’s Smith Electric Vehicles Have Begun.
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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