ENER1 supplies batteries for Volvo electric car

Automotive battery maker Ener1 Inc. says it is providing lithium-ion batteries for Volvo's C30 battery electric vehicle prototype. The batteries are made in the U.S. by Ener1 unit EnerDel Inc., which also is providing batteries for Volvo's plug-in hybrid V70 demonstration vehicles being road-tested in Europe this fall.

The C30 battery electric vehicle, being unveiled Thursday in Sweden, is designed as a zero-emission, city commuter car with a 95-mile range (153 km). "Volvo's rigorous performance standards are well known throughout the auto industry, and Ener1 is proud to be collaborating with them for a second time," Ener1 CEO Charles Gassenheimer said in a statement.

Ener1 makes lithium-ion batteries for hybrid, plug-in hybrid and pure electric vehicles, and develops commercial fuel cell products and nanotechnology-based materials for batteries. The New York-based company last week said it was creating a new European division because of increasing electric-car interest from carmakers there. Ener1's Indiana-based EnerDel unit in August received $118.5 million in federal stimulus finds to expand lithium-ion battery production. The company has said the funds will help double its U.S. production capacity, and create about 1,700 new jobs in the state.

Source : Forbes, September 17th, 2009