DesignLine International selects LTC as its Li Ion battery supplier, 02/27/2009
DesignLine International, a world wide supplier of hybrid and electric transit buses with manufacturing operations in Charlotte, NC, and outside of Christchurch, New Zealand, has partnered with LTC (Ticker symbol LTHU) to supply Li Ion batteries. LTC will in 2009 deliver up to 90 battery packs. These battery packs will consist of more the 300 large format (45Ah) cylindrical cells each.
These batteries will be supplied to support contracts held by DesignLine International for the delivery of hybrid electric buses from New York City to Melbourne, Australia.
The large format cells will be produced at LTC?s production facility in Nordhausen Germany and the batteries will be assembled, tested and maintained out of LTC?s facility in Plymouth Meeting P.A. This contract will give LTC the opportunity to rebuild its battery assembly activity in the US after a period in which the company stopped its pilot manufacturing activity for flat cells in Plymouth Meeting P.A.
The global demand for the DesignLine hybrid vehicle is very high. If LTC is able increase its production capacity on the projected timeline, DesignLine is interested in higher volume supply.
Design Line International CEO?s Brad Glosson stated: ?the outstanding quality and performance of LTC?s large format cylindrical cells has been an important reason to select LTC as our prime battery vendor?.
?This multi million dollar contract clearly shows that LTC?s strategy to focus on cylindrical cells and to focus its direct sales efforts on the transportation market is paying off? says Theo Kremers, the CEO of LTC.
LTC is excited to be part of the fast growing Hybrid and Electric vehicle market and is pleased the Design Line International has chosen LTC?s first class technology to help them realize their commercial objectives.
On LTC: LTC is a global manufacturer of large format cylindrical Li Ion cells and a global provider of power solutions for diverse applications. LTC is specially well positioned in the fast growing markets of hybrid electric and electric vehicles.
