Israel’s ETV Motors Ltd, a developer of electric vehicle technology, has decided to change its name to ETV Energy Ltd, as it focuses on energy and battery cell technology.
The company will refocus on the HIGH5IVE high voltage lithium manganese spinel battery cell technology that its scientists have been developing for electric vehicles and hybrids.
CEO Dror Ben David outlined that its concentration is on energy with the aim of delivering more per unit of weight than any other company in the field. He believes there is strong interest among industrial companies to become customers of game-changing battery cell chemistry and this was demonstrated with the company’s first contract of a $2million transaction with a global aerospace company.
He said that penetrating the automotive industry with an alternative combustion technology was always going to take some years and separating the nearer and long term opportunities was a necessity.
