An upstart company based in Indianapolis hopes to ride the wave of high-tech battery development. With the growth of hybrids and expectation of plug-in hybrids hitting the dealers soon, there is a global rush to design durable lithium-ion batteries with extended capacity and quick-charging capability.

Panasonic and Sony are world leaders in the technology but up to 50 other companies are vying for a piece of the action. Ener1 is developing test versions of a new battery at its EnerDel unit in Indy, which used to be part of a Delphi plant. Officials say the project could lead to annual revenue of $1 billion.

The high cost of commercialization could fail the development or force a production move outside the country.

[Source: Indianapolis Star]

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