Toyota announced this week that it would be delaying plans to bring its plug-in, lithium-ion-based model to market until 2011, as opposed to 2008, due to safety concerns over the company's chosen battery.
ENGADGET: Toyota delays next-gen Prius while GM inks deal with lithium-ion maker
Nanophosphate EXT is based on A123's proprietary lithium iron phosphate battery technology, which offers high power, long cycle life, increased usable energy and excellent safety as compared to other available battery technologies.
ENGADGET: A123 Systems' new lithium ion tech keeps EV batteries cool, your wallet in check
In the event Tewoo triggers the 20% clause in 2014, Canada Lithium could deliver up to a maximum 14, 400 tons during the calendar year of 2014 and prices will be adjusted quarterly based on actual market prices, Canada Lithium said in the initial release.
In very related news, GM has struck a deal with Massachusetts-based battery developer A123 Systems to produce flat lithium-ion batteries for use in upcoming plug-in electric vehicles, such as the Chevy Volt.
ENGADGET: Toyota delays next-gen Prius while GM inks deal with lithium-ion maker
"Wall Street is every entrepreneur's dream, " says Kit Tsui, chief executive of Shenzhen-based Industries International, a maker of telephones and lithium batteries.
Japanese authorities in January said they had found no major quality or technical problem with the lithium-ion batteries, which are manufactured by Kyoto-based GS Yuasa.
On October 16, A123, a Massachusetts-based company that designs, develops, manufactures, and sells rechargeable lithium-ion batteries and energy storage systems, filed for bankruptcy protection.
The batteries in question are lithium batteries manufactured by Japan's GS Yuasa, under a subcontract to France-based Thales, Boeing said.
The lithium-ion (Li-ion) batteries that power the iPad and virtually all other mobile devices are still based on a chemistry from the early 1990s.
FORBES: Battery Chemistry Is Getting In The Way Of Apple's Vision
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