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PHOTO CAPTION: Th!nk City electric cars roll off Valmet assembly line in Finland.

THINK City Electric Car to Use Eltek Valere Battery Chargers

Eltek Valere starts delivering the first chargers in February.

Published: 21-Jan-2010

DRAMMEN, NORWAY – Jan. 20, 2010 – Eltek Valere will deliver battery chargers to THINK City , the company announced today. The contract is the first result of Eltek Valere’s growth initiative for electric vehicle technologies, and shows new areas of application for the company’s core competencies.

“Chargers for electric vehicles represent a new and exciting business area and we have high expectations,” said Eltek Valere’s Chief Marketing Officer Morten Schøyen. “We see a great deal of interest for our technology from both large car makers and smaller manufacturers of electric vehicles. In addition to the contract with THINK <http://thinkev.com/> , we expect to gradually develop business with other customers within this segment.”

Eltek Valere has traditionally delivered power supply systems to the telecommunication industry. This contract shows new areas of application for the company’s technology.

“We use our leading technology platform and the same logistics organization as we do for our chargers for telecommunication,” Schøyen said. “That means that we can produce compact, energy efficient and competitive chargers to electric cars.”

The contract with THINK concerns THINK City, an electric car that is being produced in Valmet, Finland, and now is ready for orders. Eltek Valere will also deliver chargers to their deliveries of complete drivetrains. Eltek Valere starts delivering the first chargers in February.

The market for electric vehicles is still in its early stages although many players expect strong growth in the coming year. The success criteria for electric vehicles are battery technology, charging infrastructure and the charging time.

“Eltek Valere’s electric vehicle charger is a lightweight and compact product that is easy to place in a car where space and weight matters a lot,” Schøyen said. “The charger also has a high power efficiency, which lower the power bill and reduces heat generation. Eltek Valere aims to capture a strong position in this market.”

About Eltek Valere
Eltek Valere AS the industry’s leader in green, high-efficiency power technology and is advancing its goal of ‘becoming the greenest power in the industry’ through innovative power solutions and excellence in product quality and customer support. Headquartered in Drammen, Norway, Eltek Valere is a global leader in power electronics offering end-to-end power solutions for mobile and fixed-line network infrastructure and industrial applications and includes rectifiers, inverters, enclosures and alternative energy solutions. The company has more than 2,000 employees, offices in 25 countries and sales in more than 100 countries. Founded in 1971, Eltek Valere is part of Eltek ASA listed on Oslo Stock Exchange (OSE). More information is available at www.eltekvalere.com .

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