Tesla To Supply Batteries To Think
May 22, 2007

Tesla Energy Group, a newly formed division of electric carmaker, Tesla Motors, announced today that it signed an agreement to develop and supply Think, a Norwegian electric carmaker, with lithium-ion battery packs.

The agreement covers the development and delivery of battery packs starting in December and continuing through 2008. The deal represents up to $43 million in revenues.

Tesla Motors, founded in 2003, has developed proprietary technology for the design and manufacture of high-power, high-capacity lithium-ion battery packs used in its Tesla Roadster high-performance electric car. The roadster goes on sale this fall.

Tesla’s press release said Think, in which Ford once owned a stake, selected Tesla Energy battery packs for their superior combination of power and energy density, as well as excellent battery management capabilities, advanced safety capabilities and competitive cost.

For Tesla, the Think deal increases its economies of scale and provides additional sources of revenue to further Tesla’s battery development.

Posted by Michelle Krebs at 9:53 AM under Business , News , Technology | Comments (0) | digg this | Seed Newsvine