Serbia's Pharaoh and U.S. A123 Systems to sign agreement to develop electric vehicles

Pharaoh, the Serbian electric vehicle maker, will sign on April 12th at the Belgrade Chamber of Commerce a partnership agreement with the U.S. company A123 Systems, which produces the most advanced lithium-ion batteries for electric vehicles, Pharaoh announced in a statement.

By signing that agreement, companies accept the obligation to work together on the development of electric vehicles that will be manufactured and distributed by Pharaoh.

On behalf of the Serbian company, the agreement will be signed by Director Vuk Stefanovic, while A123 Systems Europe Director Roland Jeutter will sign the agreement on behalf of the U.S. company.

As it was announced earlier, the company Pharaoh will unveil a prototype of an electric vehicle with zero emission in late 2013, whereas the production in Serbia is expected to commence in 2015.