Posted by Anthony CarboneApril 23, 2009 at 2:49 pm
Toronto-based Zenn Motor Company Inc. shares (ZNN) SOARED today based on new battery technology results released by one of their partner EEStor Inc in Texas. This ground breaking battery technology is key in enabling electric cars to meet minimum highway speed standards. The stock rose to a high of $5.79 CAD (up 68%) and currently up 48%.
The ZENN can be recharged anywhere by simply plugging into a standard electrical outlet and can be ready to go in as little as 4 hours. At only pennies per mile to operate and with minimal maintenance requirements, the ZENN is the ideal choice for consumers and businesses alike.
ZENN Motor Company Inc. is a developer, manufacturer and supplier of electric vehicles. The Company focuses on providing zero emission transportation solutions. The Company’s initial EV offering was a low speed electric vehicle called the ZENN.
Zenn currently builds a 2 seat fully electric vehicle at a plant in Quebec, Canada. It has a range of 50-80km (31-50miles) and a top speed of 40km/h (25mph). It is currently not allowed on public roads in many jurisdictions due to its low speed yet can be used in low speed streets and controlled areas such as campuses and gated communities.
With this new battery technology Zenn plans to build a new highway capable vehicle called the CityZENN which is expected to have a top speed of 125km/h (78mph) and have a range of 400km (250miles) on a single charge. Initial production is late 2009 with commercial availability in 2010.
Zenn Motors also has worldwide exclusive rights to use the battery in vehicles under 1400kg (3086 lbs).
Texas based EEStor who manufactures the battery is a privately held low key company which was responsible for releasing the positive data with respect to it’s energy and power density results of their patented modified barium-titannate powders battery.