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To: craig crawford who wrote (573)	7/23/2001 12:39:52 AM
From: craig crawford	Respond to of 1643

Wednesday July 18, 11:59 am Eastern Time Texaco and ECD join to make electric car batteries biz.yahoo.com NEW YORK, July 18 (Reuters) - Major oil company Texaco, Inc. (NYSE:TX - news) and Energy Conversion Devices, Inc. (NasdaqNM:ENER - news), designer of a high technology battery used to power electric cars, said Wednesday they had formed a joint venture to make the battery widely available on a commercial basis. The joint venture will be called the Texaco Ovonic Battery Systems. Texaco, which is in the process of being acquired by Chevron Corp. (NYSE:CHV - news), will provide $150 million in funds over the next few years to bring the ECD's advanced nickel metal hybrid (NiMH) into commercial production for both automotive and non-automotive use. The NiMH battery, which has higher power and a longer life than conventional batteries, is used to power hybrid electric vehicles and is included in automaker designs for upcoming production models, the companies said.