XALT Energy Announces Lithium Battery Supply Agreement with Chinese Bus Manufacturer

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XALT Energy Announces Lithium Battery Supply Agreement with Chinese Bus Manufacturer

Export contract to bring more than 300 new High-Tech and Manufacturing Jobs to Michigan

MIDLAND, Mich. – XALT Energy, LLC (“XALT”), a leading developer and manufacturer of lithium-ion batteries, today announced it has signed a global exclusive agreement with Hybrid Kinetic Group “HK Group” of China for the supply of its Lithium Titanate (LTO) batteries from its manufacturing facilities in Midland for all-electric buses in China. Production is expected to begin during the 3rd quarter of 2015. The multi-year contract, valued at more than $1.0 billion, will create 300 new high-tech and manufacturing jobs in Midland this year. Hiring is underway with 80 positions expected to be filled in April.


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