Valence Selected to Participate in USABC Program

October 29, 2002 by Jeff Shepard

Valence Technology Inc. (Austin, TX) announced that it has been selected to participate in the United States Advanced Battery Consortium's (USABC) Technology Assessment Program. The USABC Technology Assessment Program is used to evaluate technologies for consideration in the development of advanced high-performance batteries for electric vehicles.

"Having been chosen for this program by market leaders such as Ford, DaimlerChrylser and GM demonstrates the potential benefits that Saphion™ technology can bring to this market," stated Stephan Godevais, chairman and CEO of Valence Technology. "We believe that Saphion's unique combination of lithium-ion performance, cost and safety characteristics makes it an attractive development platform for the automotive industry."