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ECOtality Approved for NASDAQ Trading

Electric transportation solutions provider ECOtality announced today it has received the approval to trade shares of its common stock on the NASDAQ Capital Market, three months after filing for permission. The ticker symbol for the company is NASDAQ:ECTY, while the first day of trading is expected to take place towards the end of the month.

“The transition to NASDAQ gives ECOtality much greater exposure to large institutions and funds, as well as much more transparency for the market; the result is a more accurate evaluation of our company and an increase in shareholder value,” ECOtality Jonathan Read said in a release.

“We are honored by the approval, particularly as our company continues to expand its global presence as the leading provider of infrastructure for electric vehicles.”

ECOtality is fighting, alongside Japanese carmaker Nissan and several other EV-related companies, to implement a proper charging network in the US, while also providing the solutions (storage, payment options) needed by customers.

At the end of January, the company announced the internet-based software developed by eTec for the advanced charging of EVs, helping drivers chose the time of charge or know when charging is complete. The company is also the leader of the EV Project, an endeavor meant to promote EV transportation.

The goal is to get the infrastructure ready to receive the projected 1,000 EV to enter each of the test areas by 2011. In the San Diego area alone, eTec estimates some 1,400 charging station will be available for EV drivers.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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