Electrovaya signs deal with Chinese company
TORONTO - Electrovaya Inc. (TSX:EFL) said Tuesday it has signed a deal with a Chinese automaker to produce a prototype battery system to be used in an electric vehicle.
Financial terms of the deal with DongFeng Motors were not immediately available.
The company said DongFeng plans to launch commercially two electric vehicles by late 2013.
Electrovaya designs, develops and manufactures lithium ion batteries.