19 May 2009 07:00
Eco City Vehicles Plc (ECV)
ECV'S FIRST HYBRID TRUCK ARRIVES
Eco City Vehicles Plc ("ECV" or the "Company") is pleased to announce, as the next stage of its planned growth strategy, the arrival of its first Series Hybrid Truck.
The Company has signed Heads of Terms with Veicoli Ecologici Metropolitani (VEM) of Italy for exclusive distribution in the UK and Ireland.
The Company has converted a 3.5 Ton Mitsubishi Canter Fuso to run on electric propulsion backed up by an on-board LPG generator.
The vehicle, believed to be the first of its type in Europe, is capable, with a full charge of batteries backed up with 25 litres of LPG, of completing circa 200 km with a one ton payload.
Chief Executive Peter DaCosta commented:-
"I am delighted to make this announcement as both parties have worked tirelessly on the project for some two years. We believe we have developed a real commercial solution to help the environment and an alternative to pure electric.
"Our vehicle has been designed to eliminate the fear that an electric vehicle will run out of power and not be able to get back to base. It gives a range sufficient to enable companies to do a day's work and return home.
"I am also delighted to announce that the terms we have signed will give us the opportunity and option to manufacture and convert the vehicle here in the UK.
"The Company wants to take part in the green initiatives that are being offered to the motor industry, which are intended to help our depressed and distressed vehicle market, bringing much needed jobs to the sector.
"It is envisaged that, if this option does take place, we will use space in our Coventry factory, in which we also convert the Mercedes Taxi, that we have kept available in anticipation of this announcement.
"We have already received many enquiries over the past months from blue chip, truck and logistic companies who had heard that the vehicle was on its way."
For further information please contact:
Enquiries:
Eco City Vehicles PLC +44 (0) 20 7377 2182
Peter Da Costa, CEO
Numis Securities Limited +44 (0) 20 7260 1000
Stuart Skinner (Nominated Adviser)
David Poutney (Corporate Broker)
-ENDS-