Ener1 Inc. and battery-maker Wanxiang Electric Vehicle Co. Ltd. sign a joint-venture agreement to co-manufacture lithium-ion cells and battery packs for the Chinese market. The new company, Zhejiang Wanxiang Ener1 Power System Co. Ltd., will use Wanxiang’s existing 553,000-sq.-ft. (51, 376-sq.-m) facility in Hangzhou to produce battery systems for the Chinese suppliers’ existing light- and heavy-duty automotive and power-grid customers, for delivery this year. The JV is expected to ...
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