Boston-Power In Taiwan Manufacturing Deal
Westborough-based Boston-Power Inc. has struck a deal with a Taiwanese company that will dedicate a factory to producing nothing but Boston-Power's Sonata Lithium-ion batteries.
The five-year agreement allows GP Batteries, using materials supplied by Boston-Power, to double its monthly production this year. The agreement also provides for joint research and development efforts to expand the capacity and performance of the Sonata line of batteries.
GP Batteries is the top consumer battery manufacturer in China and is part of Gold Peak Industries.
The manufacturing deal follows Boston-Power's recent infusion of $55 million in capital and its agreement with computer giant HP to supply Sonata batteries for HP notebook computers beginning in the current quarter.
Financial terms of the GP Batteries deal were not disclosed.
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