Investors may not be familiar with Braille Energy Systems (TSXV:BES), but that is not weighing down shares today. In fact, BES.V stock is soaring on one big news item. So what is that news item? And what else do you need to know about Braille Energy Systems stock?
To start, investors should know that Braille Energy Systems is a Canadian manufacturer and supplier of lightweight lithium-ion batteries. Its customers are in the motor sports, transportation, avionics, mining, medical and audio industries. Additionally, the company operates through its Braille Battery arm in Sarasota, Florida. Similarly, Braille Battery specializes in lithium-ion batteries for high performance. Customers include Indycar, DTM, SuperGT and Australian V8 Supercars.
Because Braille Energy Systems calls Kingston, Canada its home, it trades on the TSX Venture Exchange. However, something about BES.V is catching investor attention today. So what should you know about Braille Energy Systems stock right now?
It turns out that the company shared some big news yesterday. In a press release, Braille Energy Systems said that had entered into a supply agreement with Unplugged Performance. As part of this deal, it will exclusively supply 12-volt lithium batteries for Unplugged Performance. And if you are not familiar, Unplugged Performance runs the leading upgrade program on Tesla (NASDAQ:TSLA) vehicles.
Essentially, Unplugged Performance makes high-performance parts to upgrade Tesla vehicles for drivers that want a super-car experience. These upgrades include vinyl wrapping, detailing, custom interiors and window tinting. Additionally, it provides specific services for individual Tesla cars. For the Model S, you can have it upgraded to race more safely, among other things. Unplugged Performance operates in Hawthorne, California, next to the Tesla design center.
Braille Energy Systems Stock and the Tesla News
So what else do you need to know about BES.V and Braille Energy Systems stock?
Right now, it is not entirely clear how meaningful this partnership will be. Not every Tesla customer wants to upgrade, especially not to racing specifications. However, the exclusive deal with Unplugged Performance will give Braille Energy Systems exposure to a new set of customers, and acts as an endorsement of its lithium-ion batteries.
Keep this news on your radar, especially with the consumer adoption of EVs growing.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.
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