FOX Translator
No data currently available.
No data currently available.
Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.
Home / Markets / Industries / Industrials
Tuesday, May 06, 2008
Electrovaya Enters Into Battery Pack Design and Production Program With Phoenix Motorcars
Comtex
MISSISSAUGA, ONTARIO, May 06, 2008 (MARKET WIRE via COMTEX News Network) ----Electrovaya Inc. (TSX: EFL) ("Electrovaya") today announced it is negotiating a purchase and supply agreement and has begun work on a battery pack design and production program with Phoenix Motorcars, a California-based electric vehicle manufacturer. This project includes certain upfront engineering design services and hardware production. Electrovaya has received payment in advance for a substantial portion of this work.
Electrovaya's program will be focused on the production of integrated battery systems for Phoenix Motorcars' long-range, zero-emission, electric, sports utility vehicles ("SUVs") and sport utility trucks ("SUTs"). These battery systems will feature Electrovaya's proprietary Lithium Ion SuperPolymer(R) battery technology and integrated intelligent battery management system ("iBMS"). Phoenix Motorcars will develop and manufacture the vehicles at its facility in Ontario, California.
"We are delighted that Phoenix Motorcars has chosen Electrovaya to produce a battery pack for their long-range vehicles. Phoenix Motorcars is a fast growing organization with outstanding management and engineering teams and their aim is to be a global leader in zero emission vehicles," said Dr. Sankar Das Gupta, CEO of Electrovaya. "We are also proud to develop critical enabling power storage technology that can make a zero emission vehicle a reality, today."
Phoenix Motorcars' SUT and SUV vehicles are advanced battery-electric, zero-emission vehicles that can travel at freeway speeds while carrying four passengers and a full payload. These vehicles offer the car-buyer a Zero Emission personal automobile option, helping reduce the emissions from personal automobiles, which are the largest contributors to air pollution.
"We are pleased to have Electrovaya join forces with us, and we are excited to be working with their team and their advanced technologies," said Phoenix Motorcars CEO, Daniel J. Elliott. "Electrovaya's innovative Lithium Ion SuperPolymer(R) battery technology stands apart from its peers as a platform, chemistry agnostic technology. Electrovaya's systems expertise and design experience provide what we need in terms of battery performance."
About Phoenix MC, Inc.
Phoenix MC, Inc., a privately-held Delaware corporation, headquartered in Ontario, California and doing business as Phoenix Motorcars has been an industry leader in the development of battery-electric, freeway-speed vehicles since 2001. The mission of Phoenix MC, Inc. is to manufacture zero-emission vehicles including SUTs and SUVs to reduce the toxic emissions from the largest contributor to air pollution, personal automobiles. For more information, visit www.PhoenixMotorcars.com.
About Electrovaya Inc.
Electrovaya (TSX: EFL) is a developer and manufacturer of portable power solutions with its proprietary Lithium Ion SuperPolymer(R) battery technology. Its goal is to become the preferred provider of portable power to mobile computing, aerospace, defense and wireless sectors, and the developer of alternative energy applications including UPS, stand-by power, plug-in hybrids and Zero-Emission Vehicles. The Company's shares trade on the Toronto Stock Exchange under the symbol EFL.
For more information about the Company and its products, please visit our website at www.electrovaya.com.
Forward-Looking Statements
This news release may contain forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the Company's business and results of operations. Risks are outlined in the Company's MD&A for the year ending September 30, 2007 and are set forth in public disclosure documents filed with Canadian regulatory authorities. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Electrovaya Inc. P. Hart Chief Financial Officer (905) 855-4636 Email: plhart@electrovaya.com Website: www.electrovaya.com The Equicom Group Glen Williams Investor Relations (416) 815-0700 ext. 272 Email: gwilliams@equicomgroup.com
SOURCE: Electrovaya Inc.
mailto:plhart@electrovaya.com http://www.electrovaya.com mailto:gwilliams@equicomgroup.com
Copyright 2008 Market Wire, All rights reserved.
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
