VW, Hybrid Technologies to develop lithium-powered vehicle

London (Platts)--1Nov2005

Volkswagen America and Hybrid Technologies Tuesday signed an agreement to
jointly produce a lithium powered concept vehicle to be utilized by
Volkswagen. In a statement Hybrid Technologies said that the vehicle will
highlight demonstrable lithium technology placed into a concept vehicle.
Volkswagen with over 5-mil vehicles sold is rapidly growing with its
innovative product line.

     "The project will remain highly confidential for several months while
development work is conducted at the new Hybrid Technologies facility in
Mooresville, NC, and additional research and development will take place in
California," Hybrid said Tuesday.

     A Europe-based automotive source noted: "This will not have any effect on
the manufacture of autocatalysts--what it does confirm though is that these
hybrid vehicles will only be a niche market. Subsidiaries of Hybrid
Technologies also involved in the project include R-Electric Car, Global
Hybrid, and Solium Power.

-- James O'Connell james_oconnell@platts.com

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