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FengFan, Valence establish battery company in China

Posted: 23 Jul 2003 ?? ?Print Version ?Bookmark and Share

Keywords:fengfan? valence technology? li-ion battery?

Battery makers FengFan Group Co. Ltd and Valence Technology Inc. of China and the U.S. respectively, have formed joint a venture company named Baoding Fengfan-Valence Battery Co. Ltd. The new company, which has been granted a business license to operate in China, will manufacture Saphion Li-ion batteries.

Baoding Fengfan will be located in the Baoding National High Technology Industrial Development Zone in the City of Baoding, southwest of Beijing, China. According to the terms of the agreement, Valence will contribute capital equipment, technology, and engineering expertise. FengFan, on the other hand, will provide the cash required to fund the joint venture for the first two years, as well as the land and facilities needed for manufacturing operations.

"In Saphion technology, Valence has developed a battery chemistry with safety advantages that enable the development of large format Li-on energy solutions," stated Mr. Chen Ming Li, chairman and president of the FengFan. "Our joint venture company will pioneer the manufacture of these solutions and bring to market among the most advanced Li-ion technology."

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