Electrovaya Partners with Tata Motors and Miljø to Launch Electric Car and Battery Production in Norway
Electrovaya is partnering with Tata Motors and Miljø Grenland/Innovasjon to manufacture batteries and electric cars in Norway, beginning in 2009, using Electrovaya’s Lithium Ion SuperPolymer battery technology. The first vehicle to be produced will be the Indica EV, based on Tata’s Indica, due to launch in Europe in 2009. (Earlier post.)
|The conventional Indica.|
The Indica EV will be capable of carrying four people with a predicted range of up to 200 km (124 miles) and acceleration of 0-60 kph in less than 10 seconds.
Tata Motors’ UK subsidiary, Tata Motors European Technical Centre plc, acquired a 50.3% stake in Miljø for NOK 12 million (US$1.9 million).
As its technology partner, Electrovaya receives equity in Miljø, a technology license fee and a royalty based on the value of its lithium-ion batteries used in the electric cars.