Thursday, Valence Technology, Inc. (VLNC) announced the signing of a multi-year supply agreement with hybrid buses supplier Wrightbus. Valence Technology is US-based a supplier of high-energy power systems.
According to Valence Technology, the new agreement secures the relationship between the two companies through 2016. Besides, the company expects the initial contract to generate between $19 million to $24 million in battery sales over the six-year term of the agreement, subject to market demand.
Wright Group product development director, Damian McGarry, said, "The teams from Wrightbus and Valence Technology have been working together since 2005. The relationship has only strengthened as we develop our future hybrid product range throughout the U.K. and Europe."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.