Valence Technology Inc. (Austin, TX) announced that it has entered into an OEM agreement with Amperex Technology Ltd. (ATL, Hong Kong). Under the agreement, ATL will manufacture batteries for Valence.
"Our agreement with ATL will reinforce our current manufacturing capacity in preparation for future customer demand," stated Stephan Godevais, chairman and CEO of Valence. "We were seeking a partner who possessed both the technological expertise and the manufacturing excellence to complement our own production capabilities. ATL, a valued licensee of Valence, was a natural choice. ATL has the experience, the equipment and the team in place to support our growth, and we look forward to a continuing OEM relationship."
