EnerSys announced that it has entered into a definitive agreement to launch a joint venture in Germany to produce large format lithium-ion battery cells.
EnerSys will have a majority interest in the joint venture in cooperation with GAIA Akkumulatorenwerke GmbH (GAIA), a wholly owned subsidiary of Lithium Technology Corp. (LTC). The joint venture will include LTC’s contribution of certain intellectual property, and its lithium-ion manufacturing capability located in Nordhausen, Germany. It is anticipated the joint venture will commence operations in October 2011.
