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TORONTO, /CNW/ — Electrovaya Inc., (TSE: EFL)announced today that it has signed a Memorandum of Understanding with CAMIAutomotive Inc., a joint venture company between General Motors of Canada Ltd.and Suzuki Motor Corporation, to develop Zero Emission Vehicles utilizingElectrovaya’s power and control technology in CAMI’s sport utility vehicles(SUV’s). CAMI Automotive builds the Chevrolet Tracker and the Suzuki Vitara atits facility in Ingersoll, Ontario.
Electrovaya’s patented Lithium Ion SuperPolymer battery provides thehighest energy density rechargeable battery available commercially anywhere inthe world. Vehicles powered by Electrovaya’s technology combine zero emissionswith unsurpassed range and lowest operating and maintenance costs.
“Each party provides its expertise in the development of zero emissionelectric vehicles. Together, we will drive the pace at which this technologycan become a commercial reality,” said Dr. Sankar Das Gupta, CEO ofElectrovaya. “Electrovaya will bring its engineering, management expertise andknowledge of battery, power and control technology. Combined with CAMI’s vastexperience in assembling vehicles, this will provide for a dynamicrelationship between our two companies.”