Ener1, Delphi Form New Lithium Battery Company.(Ener1 Battery Co.)(Brief Article)

Electric and Hybrid Vehicles Today, October, 2004

Ener1, Inc. recently announced it has completed a transaction with Delphi Corporation to combine the companies' lithium battery operations into one new company, under the name EnerDel, a move aimed at improving the performance, size and cost advantages of lithium battery technologies developed by Ener1 and Delphi.

Ener1 said it has invested $15 million in the new company for working capital under the transaction, with Ener1 owning 80.5 percent of EnerDel's common stock and Delphi owing 19.5 percent.

"EnerDel will capitalize on the best aspects of Ener1 and Delphi's lithium battery patent portfolios, which provide the technology foundation for EnerDel to create innovative lithium battery products and market them competitively," said Ener1 chairman and...

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