Valence Technology Inc , will build a $ 760 million battery manufacturing plant in Central Texas , that ould employ thounsands of people , but the plan relies in part on wheather its secures federal stimulus money , executives said.
The Austin company which makes rechargerable batteries for electic vechiles , backup power sources and other applications , said it has applied for $ 608 million in low interest loans from a federal progam designed to spur the development of next generation cars and trucks .
wire reports
