Tata Motors in tie-up with Electrovaya
Tata Motors , which recently bought a 50.3% stake in the Norway-based EV specialist, Miljo Grenland/Innovasjon, will now be working with the Canada-based Electrovaya for manufacturing lithium-ion super-polymer EV batteries in Norway.
Based in Mississauga, Ontario, in Canada, Electrovaya will receive equity in Miljo Grenland, a license fee for its battery technology, and royalty based on the value of its battery technology used in Tata Motors electric cars. Production of the batteries will begin in 2009, with the first Tata-Miljo EVs expected to roll out in the next 12 months.
[Via: indiaautomotive]
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