Eltek Valere awarded electric vehicle contract
(Thomson Reuters ONE) - Eltek Valere will deliver battery chargers to THINK City. The contract is thefirst result of Eltek Valere's growth initiative for electric vehicletechnologies, and shows new areas of application for the company's corecompetencies.- Chargers for electric vehicles represent a new and exciting business area andwe have high expectations, says Chief Marketing Officer Morten Sch? in EltekValere. - We see a great deal of interest for our technology from both large carmakers and smaller manufacturers of electric vehicles. In addition to thecontract with THINK, we expect to gradually develop business with othercustomers within this segment, says Morten Sch?.Eltek Valere has traditionally delivered power supply systems to thetelecommunication industry. This contract shows new areas of application for thecompany's technology.-We use our leading technology platform and the same logistics organization aswe do for our chargers for telecommunication, says Morten Sch?. -That meansthat we can produce compact, energy efficient and competitive chargers toelectric cars.The contract with THINK concerns THINK City, which is being produced at Valmetin Finland and now is ready for orders. Eltek Valere will also deliver chargersto their deliveries of complete drivetrains. Eltek Valere starts delivering thefirst chargers in February.The market for electric vehicles is still in its early stages although manyplayers expect strong growth in the coming year. The success criteria forelectric vehicles are battery technology, charging infrastructure and thecharging time.- Eltek Valere's electric vehicle charger is a lightweight and compact productthat is easy to place in a car where space and weight matters a lot, says MortenSch?. - The charger also has a high power efficiency, which lower the powerbill and reduces heat generation. Eltek Valere aims to capture a strong positionin this market.For more information, please contact:P?Skistad, CFO, +47 9085 0378This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1375335]
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Datum: 20.01.2010 - 13:46 Uhr
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