Automotive Electronics

Evercel's Joint Venture Receives Battery Order

Evercel Inc. (Danbury, CT) has announced that, with its joint venture in China, Xiamen Three Circles-ERC Battery Corp. Ltd. (China), it has received an order for its premium rechargeable nickel-zinc batteries from the Flying Electric Motor Co. Ltd. (Taiwan) to be used in a new line of electric scooters for the Taiwan market.

The initial order is for 400 of Evercel's nickel-zinc batteries valued at approximately $50,000. Additionally, Flying Electric Motor Company's projected 2001 demand is for 20,000 additional Evercel batteries, valued at approximately $2,000,000.

"We are very pleased that Flying Electric Motor has selected our batteries for use in their new scooter line," said Robert L. Kanode, president and CEO of Evercel. "We have been working to identify the ideal markets and partners worldwide to introduce our products and this deal represents another great market opportunity. Flying Electric Motor will use a direct-to-consumer sales model by which consumers can purchase light weight, high performance electric scooters powered by Evercel's patented nickel-zinc premium performance batteries."

Evercel Inc.
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