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A Rising Tide...

21 May 2005

Shares in Energy Conversion Devices Inc. stock rose $2.26, or 12%, on Wednesday as the maker of fuel cells and batteries was expected to benefit from news that Toyota would manufacturing a Camry hybrid next year.

The Rochester Hills company has a patent agreement with Toyota battery supplier Matsushita Electric Industrial Co. of Japan, under which all batteries supplied into the North American market would either be licensed or distributed by Energy Conversion, according to Jefferies & Co. analyst Jeffrey Bencik.

Energy Conversion developed the battery technology that is being used in Toyota’s popular Prius hybrid, currently made in Japan. (Detroit News)

(A tip of the hat to Jack!)

May 21, 2005 in Batteries, Hybrids | Permalink | Comments (0) | TrackBack (0)

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