Phoenix Motorcars To Produce Electric Vehicles In Mexico

Nov 20, 2007 (financialwire.net via COMTEX) -- ALTI | charts | news | PowerRating -- November 20, 2007 (FinancialWire) Phoenix Motorcars has signed a letter of intent to produce electric vehicles powered by Altairnano's (NASDAQ: ALTI | charts | news | PowerRating) lithium titinate battery in Mexico.

A plant for the cars will be constructed on 18 acres of land outside of Puebla, Mexico. Phoenix Motorcars said that it has already taken orders for 500 fleet ready vehicles for 2008 delivery.

The company's battery-electric zero emissions sports utility truck can travel for 100 miles at freeways speeds with five passengers and a full payload. Altairnano's battery can be recharged in under 10 minutes and has a life of over 250,000 miles.

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