May 22, 2002

GM and Suzuki to build zero emissions SUV

Toronto, Ontario – Electrovaya Inc., a manufacturer of lithium-ion SuperPolymer rechargeable batteries, announced that it has signed a Memorandum of Understanding with CAMI Automotive Inc., a joint venture company between General Motors of Canada Ltd. and Suzuki Motor Corporation, to develop Zero Emission Vehicles utilizing Electrovaya’s power and control technology in CAMI’s sport utility vehicles (SUV’s). Currently, CAMI Automotive builds the Chevrolet Tracker and the Suzuki Vitara at its facility in Ingersoll, Ontario.

Electrovaya claims its patented Lithium Ion SuperPolymer battery provides the highest energy density commercially available anywhere in the world.

“CAMI is a leading producer of small SUV’s, and we are delighted to have a CAMI-built vehicle used by Electrovaya, to develop clean, green SUV’s for our global customers and to respond to existing global environmental needs,” said Simon Boag, President of CAMI Automotive Inc.

“Each party provides its expertise in the development of zero emission electric vehicles. Together, we will drive the pace at which this technology can become a commercial reality,” said Dr. Sankar Das Gupta, CEO of Electrovaya.

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