Exide Technologies get Ford battery order for fuel-cell focus

June 4, 2002 Bloomberg News is reporting that Exide Technologies, the largest maker of automotive batteries, said it won a Ford Motor Co. order for batteries to be used in a version of the Focus small car powered by fuel cells.

The 12-volt batteries will be used to store electrical energy generated by fuel cells to provide power for power steering and other electronic functions in the car, rather than for starting the vehicle, Exide said in a statement. The Princeton, New Jersey-based company wouldn't provide a value or other contract terms.

The order is part of Exide's strategy of expanding its business with existing customers, said spokeswoman Jeannine Addams. The Marathon M12V30 battery to be used in the Ford Focus FCV will built at its Columbus, Georgia, plant, Exide said.

Exide filed for Chapter 11 bankruptcy protection in April as the U.S. recession hurt demand for the company's batteries, which also are used by telecommunications systems, electric utilities and railroads. Ford will use batteries in the no-emissions version of the Focus that the automaker plans to start selling next year, the battery supplier said.

Exide shares fell 4 cents to 50 cents. The stock has lost 95 percent of its value in the past year.