Ex-Chrysler president Thomas LaSorda joins Electrovaya board of directors
His experience and industry contacts can already be seen to be paying off for the battery maker as the firm has been selected to supply the 12 kWh batteries that will help power a test fleet of 140 Dodge Ram PHEVs. LaSorda, who also will also play a role as special adviser to CEO Dr. Sankar DasGupta, is likely angling to pick up the supply contract for the just announced Fiat 500EV program as well, which, in addition to Electrovaya's Tata Indica EV contracts (and possibly the new Nano EV), could put the Canadian company in a very comfortable position.
To add one more stick to the speculation fire, the executive also has an association with another company which may have need of a battery supplier. LaSorda is the lead director of the board for start-up conversion company ALTe, who will be seeking cells for packs ranging from from 15 - 70 kWhs. If all the stars align, his other less-successful play for Saturn may be completely forgotten. Press release after the break.
[Source: Electrovaya / Green Chip Stocks]
FORMER CHRYSLER CEO THOMAS W. LASORDA JOINS ELECTROVAYA BOARD OF DIRECTORS
AND APPOINTED AS SPECIAL ADVISOR TO CEO
TORONTO, ONTARIO-- Marketwire - March 22, 2010 Electrovaya Inc. (TSX:EFL), developer and manufacturer of proprietary Lithium Ion SuperPolymer® battery systems, today announced that former Chrysler CEO, Thomas W. LaSorda, has joined its Board of Directors and has been appointed as Special Advisor to Electrovaya CEO, Sankar DasGupta.
LaSorda has been appointed to serve on Electrovaya's Board of Directors effective today, March 22, 2010. In addition to his Board responsibilities, LaSorda will also serve as Strategic Advisor to Electrovaya's CEO, Sankar DasGupta, focusing on Electrovaya's growth strategy, including business development and global alliances. LaSorda brings over 30 years of auto industry experience, most recently as Vice Chairman, President and Board Member of Chrysler LLC. LaSorda has also held the position of President and CEO of Chrysler Group after serving as Chief Operating Officer and member of the DaimlerChrysler Board of Management. Earlier, LaSorda had a distinguished 23 year career with General Motors including President of Opel Eisenbach GMBH in Germany and Vice-President, Quality, Reliability & Competitive Operations Implementation for General Motors North America. Recently LaSorda was Advisor to Penske Automotive Group in its bid to purchase Saturn from General Motors. LaSorda re
ceived a Bachelor of Arts and Commerce, MBA and Honorary Doctorate from the University of Windsor, Ontario, Canada.
"We are pleased to have Tom join Electrovaya as a Board Member and as Special Advisor to the CEO," commented Electrovaya's CEO and founder Dr.Sankar Das Gupta. "Tom brings extensive management experience and industry knowledge to Electrovaya as it develops key partnerships within the global auto industry and as it navigates a period of exceptional market growth."
LaSorda added, "I am delighted to join Electrovaya's Board and be a Special Advisor to the Company. I look forward to helping Electrovaya execute its growth strategy and capitalize on the tremendous opportunities that lie ahead. This is an exciting time for Electrovaya and the industry as it transitions to adopt more efficient, cleaner technologies in the production of new vehicles. I am very impressed with Electrovaya's roster of automotive partners, its proprietary technology and its toxin-free manufacturing process for lithium ion batteries. As the only major zero-emission manufacturer of lithium ion batteries, Electrovaya is uniquely positioned to address this vast new market for electric vehicles and other products."
On March 30, 2010, at 4 p.m. Eastern Standard Time, Electrovaya's Annual General Meeting of shareholders will be held at the Company's headquarters at 2645 Royal Windsor Drive, Mississauga, Ontario, Canada. Tom LaSorda along with the present five directors will be renominated for another term.
About Electrovaya Inc:
Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean transportation, smart grid power, consumer and healthcare markets. The Company's mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe. To learn more about how Electrovaya is powering mobility, please explore www.electrovaya.com.
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