Last checked at 24 Jun 2009 07:00
Tanfield Group plc ("Tanfield" or the "Company")
24 June 2009
Electric Passenger Vehicle Development & Trial
Tanfield is pleased to announce that it is part of a successful consortium bid to develop electric passenger vehicles.
The Company will be eligible to receive £1.6m in Government funding towards a total project cost of £3.2m to develop and trial a total of 16 vehicles as part of the Ultra Low Carbon Vehicle Demonstrator Programme - a scheme funded and administered by the Government's Technology Strategy Board.
Building on its Ford relationship, Tanfield will develop five people carriers, based on the Ford Connect Tourneo platform, (as shown in conceptual form on Ford's stand at the 2009 Geneva motor show), and one executive minibus, based on the already established Ford Transit chassis. In addition Tanfield will deliver 10 electric taxis, through its collaboration with Manganese Bronze Holdings PLC.
Darren Kell, CEO of Tanfield, said: "This funding will support our plans to transfer leading edge electric vehicle technology from our vans and trucks into passenger vehicles.
"This project opens up a raft of exciting possibilities for us. Tanfield is already acknowledged as the leader in electric vehicles that move goods; this enables us to address the market for electric vehicles that move people."
For further information:
The Tanfield Group Plc +44 (0)845 1557 755 Darren Kell, CEO Charles Brooks, FD Arbuthnot Securities +44(0)20 7012 2000 Nomad and Broker James Steel/ Katie Shelton
ENDS