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LITHIUM BATTERY WORK CONTINUES AT DELCO REMY

 ANDERSON, Ind., Jan. 11 /PRNewswire/ -- Delco Remy Division of General Motors (NYSE: GM) announced it will continue its partnership with Valence Technologies, Inc. (NASDAQ-NMS: VLNC) to jointly develop lithium polymer batteries. Delco Remy will invest approximately $7 million in 1993 toward the battery program aimed at developing batteries for automotive applications. The research and development is part of a three-year, $20 million, pact announced by the two companies previously.
 Delco Remy is a major developer and manufacturer of batteries for the automotive industry, headquartered in Anderson. Valence Technologies, Inc. is a San Jose, Calif.-based company which owns key patents in lithium polymer battery technology.
 The two companies are jointly developing the technology. Valence provides its expertise in processing the material into battery cells and Delco Remy integrates the devices into larger battery systems. The two companies are making progress toward providing high-power, high-energy battery systems for electric vehicles and other automotive applications.
 Delco Remy is a division of the GM Automotive Components Group Worldwide.
 -0- 1/11/93
 /CONTACT: Milton Beach of Delco Remy, 317-646-3367/
 (GM VLNC)


CO: Delco Remy Division; Valence Technologies; General Motors ST: Indiana, California IN: AUT SU: JVN

SB -- DE019 -- 3590 01/11/93 13:51 EST
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Publication:PR Newswire
Date:Jan 11, 1993
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