Wanxiang and Ener1 Receive Chinese Government Approval for Joint Venture

Ener1, Inc. HEV today announced that they have received approval from the Chinese government for their joint venture to co-manufacture lithium-ion energy storage systems for the China market. Government officials, including Party Secretary Zhao Hongzhu from China's Zhejiang Province, Indiana Governor Mitch Daniels and members of the Indiana Economic Development Corporation, were on hand for the announcement as part of the Indiana-Zhejiang Business Symposium in Indianapolis. The delegation also toured Ener1's manufacturing plant in Mt. Comfort, Ind., which is one of three facilities the company has throughout the Indianapolis area. "Indiana is committed to maintaining a climate where innovative businesses like Ener1 can succeed," Governor Daniels said. "We're very proud to have played a role in bringing these two companies together and look forward to their shared success as they develop the next phase of the electric car industry. Today's announcement is an example of one of many fruitful partnerships between Indiana and China and shows that the Hoosier economy has a global reach."