PHET to Supply LiFePO4 Battery to French Microcar

Taipei, Nov. 4, 2008 (CENS)--Taiwan-based Pihsiang Energy Technology Co., Ltd. (PHET), a maker of LiFePO4 batteries, recently signed an agreement to supply LiFePO4 batteries for 1,000 electric cars to Microcar of France, a maker of electric mini-cars.

PHET is a subsidiary of Pihsiang Machinery Manufacturing Co., Ltd. (PMMC), the largest maker of electric-scooters for healthcare applications in Taiwan.

Apparently diversifying, PHET will soon sign a five-year agreement with a European machine-tool maker, supplying about one million LiFePO4 batteries annually to the new customer.

PMMC/PHET, in partnership with Microcar, jointly participated in the Paris Auto Show in September. Their joint venture has Microcar supplying the electric mini-car bodies; PMMC designing the powertrain system; and PHET supplying the batteries. Microcar will begin shipment late this year, with its annual production volume expected to rise to 5,000 units.

According to PMMC, PHET's current monthly LiFePO4 battery production capacity is about 300,000 units, which will be fully booked by the year-end. With each electric mini-car powered by about 2,000 LiFePO4 batteries, PMMC said, Microcar's demand would take up half of the annual capacity at PHET.

PMMC said that PHET is also tapping other markets-talking with Ligirt, an electric-car subsidiary of the Italian Piaggio Group, and other American targeted customers.