Ener1: (Lithium-ion) Batteries in Think Vehicles by End of '08

From a Dec. 12 press release:

"We have already announced a commercial contract with Think Electric Vehicle in Norway," Charles Gassenheimer, chairman of Ener1, Inc. (OTCBB: ENEI) added, referring to a $70 million development and supply agreement signed in October. "It's the largest electric vehicle company in Europe. You will see our batteries in their cars by the end of 2008." the Ener1 chairman told interviewer Alexis Glick.

Ener1, Inc. is an alternative energy technology company that is developing lithium ion batteries for hybrid electric vehicles (HEV) at its 80.5% owned EnerDel subsidiary through corporate ventures and strategic partnerships with Delphi, ITOCHU and EnerStruct.

A previous post reported that EnerDel says it will come out with a lithium-ion battery for plug-in hybrids that will cost $1,500. Also in that post is a description of their technology.

This presentation (a lot of rhetoric) indicates that one $1,500 battery is equivalent to the $4000 NiMH battery currently used in hybrid vehicles, at half the size and 35% of the weight.