Charged up: company's new global manufacturing and development operations expected to create 850 jobs.

• Author: Hromadka, Erik
• Position: Cover story - Company overview

THE PRESS CONFERENCE inside a light industrial building on the northwest side of Indianapolis didn't seem terribly exciting at first glance. Some 100 employees of EnerDel gathered in a large empty space to hear from CEO Ulrik Grape, who was joined by state and local officials next to a small hatchback vehicle.

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However, the little car holds big promise for the state, as it was packed with the company's new lithium-ion batteries. Grape used the event to outline his vision for Indiana becoming a worldwide leader in manufacturing such power supplies for the next generation of electric vehicles.

For Grape, who started his quest to commercialize lithium-ion technology in Denmark, the event was a major milestone. He knew the empty area in the building would soon be filled with large-scale manufacturing equipment to support the work of hundreds of new hires and put the state on the map as the main source for lithium-ion battery production in North America.

"This is just the beginning," he announced, noting the company plans to expand to other locations in the state and hire up to 850 new Indiana employees over the next four years.

INTERNATIONAL SCOPE

That Indiana may become the home of lithium-ion batteries for hybrid and electric vehicles is the result of efforts that have been taking place over several years in a number of countries.

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Delphi Corp. was an initial partner in the project and set up the Indianapolis facility. However, with the Delphi in reorganization, Enerl (AMEX: HEV) the parent company of EnerDel, bought its 19.5 percent stake in the venture this summer. That places EnerDel's ownership with major shareholders including a privately held, global investment and advisory firm and ITOCHU Corporation, a $90 billion Japanese trading company and international distributor of manufacturing equipment essential to lithium-ion battery production.

In addition, EnerDel has tapped Japanese expertise in lithium-ion technology, including naming Naoki Ota as president and chief operating officer. He has more than 15 years of management, technical, operations and marketing experience in the field, most recently with Hitachi Chemical Research Center.

Then EnerDel looked to Europe for customers and landed its first major contract last year, securing a $70 million development and supply agreement with Norway-based Think. As Europe's largest electric vehicle company, Think already has more than 1,000 electric...