Innovative Business Model is Speeding the Introduction of Electric Delivery Vehicles and Buses in Europe
AUSTIN, Texas, May 30, 2012 — Valence Technology, Inc. (Nasdaq:VLNC), a leading U.S.-based global manufacturer of advanced energy storage solutions, announced today that it has signed an extended supply agreement with French based PVI, a market leader in electric industrial vehicles. The recently updated supply agreement, combined with an innovative partnership begun in 2008, is facilitating an increased adoption of electric fleet vehicles throughout Europe. Since launching the program four years ago, more than 120 electric commercial vehicles, including electric trucks and buses built by PVI and powered by Valence lithium phosphate battery systems, are in operation today in several European countries. In addition to the battery systems, Valence has provided a broad range of engineering support to PVI.
PVI OREOS Electric Buses