Valence Technology Receives $13M Battery Order from Smith Electric Vehicles US

Valence Technology, Inc. has received a purchase order worth $13 million from Smith Electric Vehicles US for Li-ion energy storage modules for Smith’s line of all electric commercial trucks through the remainder of 2010.

Smith produces the Newton, the world’s largest battery-electric-powered truck with a top speed of 50 mph, a range in excess of 100 miles on a single charge, and a payload of up to 16,280 lbs.

Valence’s cathode material is an iron-based phosphate strategically enhanced via magnesium (Mg) substitution: LiFe(1-x)Mg(x)PO4. Manufactured using Valence’s technology, it offers high specific energy and power; long cycle life; safety; and low environmental impact.


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