Greentech Lead America: Arotech Corporation announced
that its Battery and Power Systems Division has received an order from a German
automotive supply company to develop prototypes for a lithium battery for
hybrid electric vehicles.
The first prototypes are due to be delivered in the first
quarter of 2013.
Electric vehicles segment is one of the fastest growing
industries in the world. Through the end of September 2012, more than 5.2 million
hybrid electric vehicles had been sold worldwide.
“This is our second notable contract for large
format lithium ion, and represents a strategic step to balance our significant
and growing business in the military power sources market,” said Arotech
chairman and CEO Robert S. Ehrlich. “Having learned important lessons from
our previous foray into the electric vehicle market, we are determined to
minimize risk by only undertaking profitable projects.”
“We believe that between grid storage and electric
vehicles there is significant promise for large format lithium ion. With our
extensive know-how in lithium batteries and their power management, this is the
ideal time for us to enter this emerging market,” concluded Ehrlich.
Arotech has substantial know-how in large format battery
technology, having in the past, under its Electric Fuel name, successfully
developed zinc air batteries that powered electric vehicles more than 250
kilometers in a single discharge.