Jul 25, 2008
Story Timeline: 80 days
Altair Nanotechnologies Inc. has signed a new Principles of Agreement Letter with Phoenix Motorcars, Inc. that resolves an outstanding warranty issue. In the first quarter of 2008, Altair offered a warranty replacement of 47lithium-ion battery packs to Phoenix because modeling studies conducted by Altair suggested a chance of pack failure under certain conditions based on the configuration of the modules comprising the packs. Under the terms of the agreement, Altair will ship 47 battery packs purchased by Phoenix in 2007 to Phoenix for use exclusively in demonstration all-electric vehicles. In addition, Altair entered into a letter of agreement with Phoenix formally terminating the existing supply agreement and mutually releasing each other from any claims under such agreement. We are pleased to have worked with Phoenix to...
[read full story]
Your Web Site
