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  <p align="left" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SECURITIES AND
  EXCHANGE COMMISSION</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington,
  D.C. 20549</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM&nbsp;8-K</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT
  REPORT</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant
  to Section&nbsp;13 or 15(d)&nbsp;of the<br>
  Securities Exchange Act of 1934</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Date of Report (Date of earliest event reported):</font></b><font size="2" style="font-size:10.0pt;">&#160; May&nbsp;28, 2008</font></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">VALENCE
  TECHNOLOGY, INC.<br>
  </font></b><font size="2" style="font-size:10.0pt;">(Exact name of registrant as
  specified in its charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
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   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction</font></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-20028</font></b></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
    File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">77-0214673</font></b></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer <br>
    Identification Number)</font></p>
    </td>
   </tr>
  </table>
  
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  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">12201
  Technology Boulevard, Suite&nbsp;150</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Austin,
  Texas&#160; 78727</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(512)
  527-2900</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s
  telephone number, including area code)</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended
  to simultaneously satisfy the filing obligation of the registrant under any of
  the following provisions:</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Written communications pursuant to Rule&nbsp;425 under
  the Securities Act (17 CFR 230.425)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Soliciting material pursuant to Rule&nbsp;14a-12 under
  the Exchange Act (17 CFR 240.14a-12)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
  the Exchange Act (17 CFR 240.14d-2(b))</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
  the Exchange Act (17 CFR 240.13e-4(c))</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\Vmeane\08-15682-1\task2968415\15682-1-ba.htm',USER='vmeane',CD='May 30 16:40 2008' -->
  
  
  
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  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Results of Operations and Financial Condition.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
  May&nbsp;28, 2008, an article derived from an interview conducted with Robert
  L. Kanode, the President and Chief Executive Officer of Valence Technology,&nbsp;Inc.
  (the &#147;Company&#148;) was published by an online industry trade journal focused on
  energy technology stocks.&#160; In this
  article, a statement that the Company expects to report &#147;just over&#148; $20 million
  in revenues for the fiscal year ended March&nbsp;31, 2008 was attributed to
  remarks Mr.&nbsp;Kanode made during his interview.&#160; Information relating to the Company&#146;s revenue
  for fiscal 2008 had not previously been released by the Company, nor has the
  final revenue amount for fiscal 2008 been verified.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Company currently believes that it will report revenues for the fiscal year
  ended March&nbsp;31, 2008 of approximately $20.7 million, but this number is
  subject to further verification, including the completion of audit
  procedures.&#160; However, because the Company&#146;s
  final fiscal 2008 revenues (and other financial results) have not been
  completed, investors should not rely on the revenue projection attributed to Mr.&nbsp;Kanode,
  or to the updated number provided herein by the Company to clarify the
  statement attributed to Mr.&nbsp;Kanode.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
  previously announced, the Company will conduct a conference call to discuss its
  fiscal 2008 and fourth quarter financial results starting at 3:00&nbsp;p.m. EDT
  (2:00&nbsp;p.m. CDT) on Thursday, June&nbsp;5, 2008.&#160; The call may be accessed at
  www.valence.com.&#160; To access the webcast,
  please go to the Company&#146;s website approximately fifteen minutes prior to the
  start of the call to register, download, and install any necessary audio
  software.&#160; Callers within the United
  States and Canada also can dial (888) 213-3752 and enter conference
  identification number 1222409 to participate.&#160;
  Callers outside the United States and Canada can dial (913) 312-0643 and
  enter conference identification number 1222409.&#160;
  A telephonic replay will be available from 5:00&nbsp;p.m. CDT on June&nbsp;5,
  2008 through 5:00&nbsp;p.m. CDT on June&nbsp;12, 2008 by dialing (888) 203-1112
  and entering 1222409 as the identification number.&#160; In addition, a replay of the webcast will be
  available on the Company&#146;s website at www.valence.com.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Also
  please see the cautionary note regarding forward-looking information provided in
  Item 7.01 below.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
  accordance with General Instruction B.2 of Form&nbsp;8-K, the information
  contained in this Current Report shall not be deemed &#147;filed&#148; for purposes of Section&nbsp;18
  of the Securities Exchange Act of 1934, as amended, or otherwise subject to the
  liabilities of that section, nor shall such information be deemed incorporated
  by reference into any filing under the Securities Exchange Act of 1934, as
  amended, or the Securities Act of 1933, as amended, regardless of any general
  incorporation language in such filing, except as shall be expressly set forth
  by specific reference in such filing.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Regulation
  FD Disclosure.</font></b></p>
  
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As discussed in Item 2.02
  above, the Company&#146;s Chief Executive Officer Bob Kanode recently provided an
  interview to an online industry trade publication, which resulted in an article
  that was published May&nbsp;28, 2008.&#160;
  Except for the statement regarding the Company&#146;s fiscal 2008 revenues,
  and then only to the extent modified and qualified in Item 2.02 of this Current
  Report, the Company wishes to clarify that the article, including the
  information attributed to Mr.&nbsp;Kanode, was intended to represent
  forward-looking statements related to expectations of management made in the
  context of the interview, and such information does not represent the Company&#146;s
  views with respect to its future financial projections or outlook in general,
  including, but not limited to, any projection of the Company&#146;s 2009 revenues,
  in what periods the Company may recognize revenue from sales of lithium-ion
  batteries to the Smith Electric Vehicles unit of Tanfield Group PLC, or when,
  if ever, the Company will become profitable or cash flow positive.&#160; In addition, the &#147;forecasts and estimates&#148;
  attributed to Mr.&nbsp;Kanode in the article do not represent the Company&#146;s
  views with respect to the future of the transportation, renewable energy or
  battery technology markets.&#160; Finally,
  there can be no assurance that any of the discussions that the Company may be
  having with any of the companies mentioned in the article will come to
  fruition, and even if so whether the Company would be able to reach an
  agreement with any of such companies to sell its batteries in material
  quantities or at a profit.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
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  </div>
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  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company cautions
  investors and potential investors that, except for information pertaining to
  the Company&#146;s expected fiscal 2008 revenues, the statement regarding fiscal
  year 2008 revenues discussed in Item 2.02 above, nothing in the referenced
  article should be construed as representing projections of the Company&#146;s
  anticipated results of operations, or assumptions or estimates as to future
  events or outcomes, as of any subsequent date.&#160;
  Such information and forward-looking statements have not been fully
  considered by management, and accordingly at this time the Company must
  disclaim any such projections that may have been attributed to Mr.&nbsp;Kanode.&#160; Consequently, investors should not rely on
  any of the projections or estimates reported in the article.&#160; Moreover, the Company is not undertaking, and
  the Company expressly disclaims, any obligation to furnish updated or revised
  projections of the Company&#146;s projected results of operations, or assumptions or
  estimates as to future events or outcomes, to reflect any events or circumstances
  occurring or existing at any time after the date hereof.&#160; The Company&#146;s regular annual and quarterly
  financial statements, and the accompanying discussions and analyses of its
  financial condition and results of operations, contained in the Company&#146;s
  Annual Reports on Form&nbsp;10-K and its Quarterly Reports on Form&nbsp;10-Q
  filed with the Securities and Exchange Commission after the date of this Report
  will contain disclosure regarding the Company&#146;s actual results of operations
  for fiscal periods covered by the projections in the presentation
  materials.&#160; The Company&#146;s actual results
  could differ from the estimated revenues for the fiscal year ending March&nbsp;31,
  2008 contained in Item 2.02 above and could vary materially and adversely from
  the statements attributed to Mr.&nbsp;Kanode in the article.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
  information is being furnished pursuant to Item 7.01 of this Report shall not
  be deemed to be &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities
  Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
  that section and will not be incorporated by reference into any registration
  statement filed by the Company under the Securities Act of 1933, as amended,
  unless specifically identified as being incorporated therein by reference</font><font size="2" style="font-size:10.0pt;">
  and regardless of any general incorporation language in such filing</font><font size="2" style="font-size:10.0pt;">.&#160; This inclusion of such information in this
  Report will not be deemed an admission as to the materiality of any information
  in this Report that is being disclosed pursuant to Regulation FD.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cautionary Note Regarding Forward
  Looking Statements</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Report, and the
  referenced article disclaimed by the Company, contains forward-looking
  statements within the meaning of the Private Securities Litigation Reform Act
  of 1995.&#160; Actual results should be
  expected to vary substantially from those forward-looking statements as a
  result of a variety of factors.&#160; Among
  the important factors that could cause actual results to differ are: the impact
  of our limited financial resources on our ability to execute on our business
  plan and the need to raise additional debt or equity financing to execute on
  that plan; our uninterrupted history of quarterly losses and our ability to
  ever achieve profitability; the overall demand for batteries to power electric
  vehicles, and the demand for our lithium-ion batteries in particular; our
  ability to service our debt, which is substantial in relationship to our assets
  and equity values; the pledge of all of our assets as security for our existing
  indebtedness; the rate of customer acceptance and sales of our products,
  including, in particular, whether we will realize the anticipated benefits of
  our agreement to sell our batteries to the Smith Electric Vehicles division of
  the The Tanfield Group PLC; the continuance of our relationship with a few
  existing customers, which account for a substantial portion of our current and
  expected sales in the upcoming year; the level and pace of expansion of our
  manufacturing capabilities, including our ability to scale our manufacturing
  and quality processes at a level necessary to support potential demand; product
  or quality defects; the level of direct costs and our ability to grow revenues
  to a level necessary to achieve profitable operating margins in order to
  achieve break-even cash flow; the level of our selling, general and
  administrative costs; any impairment in the carrying value of our intangible or
  other assets; our execution on our business strategy of moving our operations
  to Asia and our ability to achieve our intended strategic and operating goals;
  the loss of key personnel; the failure to expand our customer base, including
  to those companies with which it has been disclosed that we may be in
  preliminary discussions; the effects of competition; and general economic
  conditions.&#160; These and other risk factors
  that could affect actual results are discussed in our periodic reports filed
  with the Securities and Exchange Commission, including our Report on Form&nbsp;10-K
  for the year ended March&nbsp;31, 2007 and subsequent Quarterly Reports on Form&nbsp;10-Q
  and other documents filed with the Securities and Exchange Commission.&#160; The reader is directed to these statements
  for a further discussion of important factors that could cause actual results
  to differ materially from those in the forward-looking statements.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
  Exchange Act of 1934, the Registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:53.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VALENCE TECHNOLOGY, INC.</font></b><font size="2" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
    </font></p>
    </td>
   </tr>
   <tr>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:53.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:53.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="53%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:53.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: May&nbsp;30,
    2008</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:48.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Roger Williams</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger Williams</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, General
    Counsel and</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assistant Secretary</font></p>
    </td>
   </tr>
   <tr>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="53%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:53.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
  </table>
  
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
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metadata_filer: {"company-data": {"conformed-name": "VALENCE TECHNOLOGY INC", "cik": "0000885551", "assigned-sic": "3690", "irs-number": "770214673", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-20028", "film-number": "08871954"}, "business-address": {"street1": "12201 TECHNOLOGY BOULEVARD, SUITE 150", "city": "AUSTIN", "state": "TX", "zip": "78727", "phone": "5125272900"}, "mail-address": {"street1": "12201 TECHNOLOGY BOULEVARD, SUITE 150", "city": "AUSTIN", "state": "TX", "zip": "78727"}}
text: UNITED STATES
  SECURITIES AND
  EXCHANGE COMMISSION
  Washington,
  D.C. 20549
  FORM 8-K
  CURRENT
  REPORT
  Pursuant
  to Section 13 or 15(d) of the
  Securities Exchange Act of 1934
  Date of Report (Date of earliest event reported):
  May 28, 2008
  VALENCE
  TECHNOLOGY, INC.
  (Exact name of registrant as
  specified in its charter)
  Delaware
  (State or other jurisdiction
  of incorporation)
  0-20028
  (Commission
  File Number)
  77-0214673
  (IRS Employer
  Identification Number)
  12201
  Technology Boulevard, Suite 150
  Austin,
  Texas  78727
  (Address of principal executive offices)
  (512)
  527-2900
  (Registrant's
  telephone number, including area code)
  Check the appropriate box below if the Form 8-K filing is intended
  to simultaneously satisfy the filing obligation of the registrant under any of
  the following provisions:
  o
  Written communications pursuant to Rule 425 under
  the Securities Act (17 CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement communications pursuant to Rule 14d-2(b) under
  the Exchange Act (17 CFR 240.14d-2(b))
  o
  Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))
  Item 2.02               Results of Operations and Financial Condition.
  On
  May 28, 2008, an article derived from an interview conducted with Robert
  L. Kanode, the President and Chief Executive Officer of Valence Technology, Inc.
  (the "Company") was published by an online industry trade journal focused on
  energy technology stocks.  In this
  article, a statement that the Company expects to report "just over" $20 million
  in revenues for the fiscal year ended March 31, 2008 was attributed to
  remarks Mr. Kanode made during his interview.  Information relating to the Company's revenue
  for fiscal 2008 had not previously been released by the Company, nor has the
  final revenue amount for fiscal 2008 been verified.
  The
  Company currently believes that it will report revenues for the fiscal year
  ended March 31, 2008 of approximately $20.7 million, but this number is
  subject to further verification, including the completion of audit
  procedures.  However, because the Company's
  final fiscal 2008 revenues (and other financial results) have not been
  completed, investors should not rely on the revenue projection attributed to Mr. Kanode,
  or to the updated number provided herein by the Company to clarify the
  statement attributed to Mr. Kanode.
  As
  previously announced, the Company will conduct a conference call to discuss its
  fiscal 2008 and fourth quarter financial results starting at 3:00 p.m. EDT
  (2:00 p.m. CDT) on Thursday, June 5, 2008.  The call may be accessed at
  www.valence.com.  To access the webcast,
  please go to the Company's website approximately fifteen minutes prior to the
  start of the call to register, download, and install any necessary audio
  software.  Callers within the United
  States and Canada also can dial (888) 213-3752 and enter conference
  identification number 1222409 to participate. 
  Callers outside the United States and Canada can dial (913) 312-0643 and
  enter conference identification number 1222409. 
  A telephonic replay will be available from 5:00 p.m. CDT on June 5,
  2008 through 5:00 p.m. CDT on June 12, 2008 by dialing (888) 203-1112
  and entering 1222409 as the identification number.  In addition, a replay of the webcast will be
  available on the Company's website at www.valence.com.
  Also
  please see the cautionary note regarding forward-looking information provided in
  Item 7.01 below.
  In
  accordance with General Instruction B.2 of Form 8-K, the information
  contained in this Current Report shall not be deemed "filed" for purposes of Section 18
  of the Securities Exchange Act of 1934, as amended, or otherwise subject to the
  liabilities of that section, nor shall such information be deemed incorporated
  by reference into any filing under the Securities Exchange Act of 1934, as
  amended, or the Securities Act of 1933, as amended, regardless of any general
  incorporation language in such filing, except as shall be expressly set forth
  by specific reference in such filing.
  Item 7.01               Regulation
  FD Disclosure.
  As discussed in Item 2.02
  above, the Company's Chief Executive Officer Bob Kanode recently provided an
  interview to an online industry trade publication, which resulted in an article
  that was published May 28, 2008. 
  Except for the statement regarding the Company's fiscal 2008 revenues,
  and then only to the extent modified and qualified in Item 2.02 of this Current
  Report, the Company wishes to clarify that the article, including the
  information attributed to Mr. Kanode, was intended to represent
  forward-looking statements related to expectations of management made in the
  context of the interview, and such information does not represent the Company's
  views with respect to its future financial projections or outlook in general,
  including, but not limited to, any projection of the Company's 2009 revenues,
  in what periods the Company may recognize revenue from sales of lithium-ion
  batteries to the Smith Electric Vehicles unit of Tanfield Group PLC, or when,
  if ever, the Company will become profitable or cash flow positive.  In addition, the "forecasts and estimates"
  attributed to Mr. Kanode in the article do not represent the Company's
  views with respect to the future of the transportation, renewable energy or
  battery technology markets.  Finally,
  there can be no assurance that any of the discussions that the Company may be
  having with any of the companies mentioned in the article will come to
  fruition, and even if so whether the Company would be able to reach an
  agreement with any of such companies to sell its batteries in material
  quantities or at a profit.
  2
  The Company cautions
  investors and potential investors that, except for information pertaining to
  the Company's expected fiscal 2008 revenues, the statement regarding fiscal
  year 2008 revenues discussed in Item 2.02 above, nothing in the referenced
  article should be construed as representing projections of the Company's
  anticipated results of operations, or assumptions or estimates as to future
  events or outcomes, as of any subsequent date. 
  Such information and forward-looking statements have not been fully
  considered by management, and accordingly at this time the Company must
  disclaim any such projections that may have been attributed to Mr. Kanode.  Consequently, investors should not rely on
  any of the projections or estimates reported in the article.  Moreover, the Company is not undertaking, and
  the Company expressly disclaims, any obligation to furnish updated or revised
  projections of the Company's projected results of operations, or assumptions or
  estimates as to future events or outcomes, to reflect any events or circumstances
  occurring or existing at any time after the date hereof.  The Company's regular annual and quarterly
  financial statements, and the accompanying discussions and analyses of its
  financial condition and results of operations, contained in the Company's
  Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q
  filed with the Securities and Exchange Commission after the date of this Report
  will contain disclosure regarding the Company's actual results of operations
  for fiscal periods covered by the projections in the presentation
  materials.  The Company's actual results
  could differ from the estimated revenues for the fiscal year ending March 31,
  2008 contained in Item 2.02 above and could vary materially and adversely from
  the statements attributed to Mr. Kanode in the article.
  This
  information is being furnished pursuant to Item 7.01 of this Report shall not
  be deemed to be "filed" for the purposes of Section 18 of the Securities
  Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
  that section and will not be incorporated by reference into any registration
  statement filed by the Company under the Securities Act of 1933, as amended,
  unless specifically identified as being incorporated therein by reference
  and regardless of any general incorporation language in such filing
  .  This inclusion of such information in this
  Report will not be deemed an admission as to the materiality of any information
  in this Report that is being disclosed pursuant to Regulation FD.
  Cautionary Note Regarding Forward
  Looking Statements
  This Report, and the
  referenced article disclaimed by the Company, contains forward-looking
  statements within the meaning of the Private Securities Litigation Reform Act
  of 1995.  Actual results should be
  expected to vary substantially from those forward-looking statements as a
  result of a variety of factors.  Among
  the important factors that could cause actual results to differ are: the impact
  of our limited financial resources on our ability to execute on our business
  plan and the need to raise additional debt or equity financing to execute on
  that plan; our uninterrupted history of quarterly losses and our ability to
  ever achieve profitability; the overall demand for batteries to power electric
  vehicles, and the demand for our lithium-ion batteries in particular; our
  ability to service our debt, which is substantial in relationship to our assets
  and equity values; the pledge of all of our assets as security for our existing
  indebtedness; the rate of customer acceptance and sales of our products,
  including, in particular, whether we will realize the anticipated benefits of
  our agreement to sell our batteries to the Smith Electric Vehicles division of
  the The Tanfield Group PLC; the continuance of our relationship with a few
  existing customers, which account for a substantial portion of our current and
  expected sales in the upcoming year; the level and pace of expansion of our
  manufacturing capabilities, including our ability to scale our manufacturing
  and quality processes at a level necessary to support potential demand; product
  or quality defects; the level of direct costs and our ability to grow revenues
  to a level necessary to achieve profitable operating margins in order to
  achieve break-even cash flow; the level of our selling, general and
  administrative costs; any impairment in the carrying value of our intangible or
  other assets; our execution on our business strategy of moving our operations
  to Asia and our ability to achieve our intended strategic and operating goals;
  the loss of key personnel; the failure to expand our customer base, including
  to those companies with which it has been disclosed that we may be in
  preliminary discussions; the effects of competition; and general economic
  conditions.  These and other risk factors
  that could affect actual results are discussed in our periodic reports filed
  with the Securities and Exchange Commission, including our Report on Form 10-K
  for the year ended March 31, 2007 and subsequent Quarterly Reports on Form 10-Q
  and other documents filed with the Securities and Exchange Commission.  The reader is directed to these statements
  for a further discussion of important factors that could cause actual results
  to differ materially from those in the forward-looking statements.
  3
  SIGNATURE
  Pursuant to the requirements of the Securities
  Exchange Act of 1934, the Registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.
  VALENCE TECHNOLOGY, INC.
  Dated: May 30,
    2008
  By:
  /s/ Roger Williams
  Roger Williams
  Vice President, General
    Counsel and
  Assistant Secretary
  4