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Valence Technology Receives $7.2 Million Order from Electric Vehicles International for UPS Trucks

Texas Business reports:  AUSTIN—Valence Technology Inc. a manufacturer of advanced energy storage devices, received a $7.2 million purchase order from Electric Vehicles International (EVI) to deliver lithium phosphate batteries for use in 100 UPS delivery vehicles.

“Valence is the exclusive advanced battery supplier to EVI, and we are proud to partner with them and UPS to further introduce environmentally clean electric delivery vehicles in the state of California,” said Valence chief executive Robert L. Kanode in a prepared statement. 
“We feel this order is substantial evidence that leading international commercial fleet companies understand the cost effectiveness and environmental benefits of electric vehicles powered by Valence batteries.”

“We tested the EVI vehicle for three months late last year and found the vehicle's performance to be very impressive,” said UPS maintenance and engineering director Mike Britt in a statement.  “As part of our analysis, we also met with Valence Technology to gain a better understanding of their technology and its life-cycle expectations. We are very comfortable with the due diligence and look forward to placing these innovative vehicles into service.”

Valence Technology, headquartered in Austin, develops and manufactures long-life lithium iron magnesium phosphate advanced energy storage devices and integrated command and control logic.