FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Gottschalk Donald E. (Last) (First) (Middle) C/O VALENCE TECHNOLOGY 12303 TECHNOLOGY BLVD., SUITE 950 (Street) AUSTIN TX 78727 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/03/2011	3. Issuer Name and Ticker or Trading Symbol VALENCE TECHNOLOGY INC [ VLNC ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Acting Chief Financial Officer	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	4,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	(1)	08/13/2017	Common Stock	12,000	1.15	D
Employee Stock Option (right to buy)	(2)	12/19/2018	Common Stock	30,000	2.8	D
Employee Stock Option (right to buy)	(3)	04/01/2021	Common Stock	15,000	1.56	D

Explanation of Responses:

1. The option is exercisable in 13 installments. The first installment became exercisable for 3,000 shares on August 13, 2008 and each of the remaining installments become exercisable for 750 shares in 12 equal quarterly installments measured from August 13, 2008.

2. The option is exercisable for 2,500 shares in each of 12 equal quarterly installments measured from December 19, 2008.

3. The option is exercisable in 13 installments. The first installment becomes exercisable for 3,750 shares on April 1, 2012 and the remaining installments each become exercisable for 938 shares per quarter thereafter measured from April 1, 2012, except for the final installment on April 1, 2015 for 932 shares.

	/s/ Donald E. Gottschalk	02/03/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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