Hybrid and Kokam Ltd., Korea, Announce Partnership, 26 Billion Dollar Corporation's Newest Vehicles to Utilize Kokam Lithium Polymer Batteries
November 18, 2005 - Hybrid Technologies, Inc. (OTC BB: HYBT) is pleased to announce that pursuant to executive meetings with one of America's largest and most profitable corporations a large acquisition for Hybrid Lithium vehicles has been approved.
The vehicles will be part of a major fleet retro fit as corporate America is given directives to adapt fleets to convey "green policies" as well as to comply with federal mandates. The latest purchase involves a major marketing campaign; therefore, Hybrid Technologies will release a further press release outlining their latest corporate partnership.
As part of Hybrid's ongoing corporate fleet sales and marketing initiatives, the 26 billion dollar corporation has agreed to purchase and take delivery of the highly acclaimed Lithium Mini Cooper model as well as the Daimler Chrysler Smart Car Lithium version. The vehicles will be part of the corporation's rapidly expanding Hybrid fleet as part of the multi national corporation's commitment to "green philosophy" as well as its well known philosophy of working with the latest in American technology.
In related news the Chairman of Kokam Corporation, one of the leading Lithium battery suppliers in the world, as well as senior executives from the Korean based battery magnate executed a partnership in Los Angeles, California. The latest Kokam battery packs will be utilized in the corporate vehicles as part of the joint venture and technology partnership. Kokam will be sending senior engineers from Korea to Hybrid's development facility and plant in North Carolina to develop and implement the latest Lithium system into the Lithium vehicles.
Holly Roseberry, President of Hybrid Technologies, stated, "The combination of this major acquisition and our new partnership with Kokam batteries insures that the latest and most advanced technology will be implemented into these vehicles. We are very proud to be working with an American corporate giant and feel that their advanced philosophy matches perfectly with Hybrid's governing principle, which is technology today for a better tomorrow."
Kokam Chairman and founder J.J. Hong stated, "We are very impressed by Hybrid's impressive growth and believe that their clients such as fortune 500 companies, automobile manufacturers and governments bring them into the forefront of the hybrid vehicle market. Hybrid Technologies is paving the way for corporations such as ours to highlight the latest in advanced Lithium technology. We see this as a long and highly profitable relationship and we will support Hybrid 100% in all their endeavors."
The vehicles are scheduled for delivery by Q1 2006.