Sevcon to Supply Electric Vehicle Drivetrain Control Technology to New Customer in China
SOUTHBOROUGH, Mass., Nov. 21, 2011 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq:SEV), a global manufacturer of microprocessor based controls for electric and hybrid vehicles, today announced that it has been awarded a contract to supply pioneering drivetrain control technology for a new range of utility and all terrain vehicles being manufactured in China.
Sevcon will supply its Gen4 microprocessor controllers for an innovative electric powertrain platform developed by the Zhejiang Xinyang Industry Co. Ltd., an established manufacturer of utility terrain vehicles (UTVs), all terrain vehicles (ATVs), go-karts and amphibious vehicles. The new electric range of UTVs and ATVs, being developed for sale in Europe, the United States and Southeast Asia, is powered by a 48V, 5kW motor, which will be controlled by a Sevcon Gen4 size 4 motor controller.
"This contract is a milestone in the expansion of our business in China," said Sevcon President and CEO Matt Boyle. "It also confirms our global leadership in drivetrain control technology for electric vehicles. The Sevcon Gen4 motor controller ensures the smooth and effective delivery of energy from the battery to the motor controlling speed and acceleration. The high efficiency of the Gen4 maximizes the range and performance of the vehicle, while offering long life even in demanding ATV applications."
In winning the contract to supply its Gen4 technology to Zhejiang Xinyang, Sevcon worked closely with its local representative, Shanghai FangAn Engineering Technology Co. Ltd., to provide vehicle performance, power engineering and technical recommendations for the new drivetrain platform.
The Sevcon Gen4 series represents the latest in compact AC motor control technology, delivering a high power capacity relative to unit size. Across the complete Gen4 range, motor controllers are available for operating voltages up to 800V DC, providing output power up to 280kW.
Sevcon is a world leader in the design and manufacture of microprocessor based controls for zero emission electric vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions, and to optimize the energy consumption of the vehicle's power source. The company supplies customers throughout the world from its operations in the USA, the UK, France and the Asia Pacific region and through an international dealer network. Sevcon's customers are manufacturers of on and off road vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers and other electrically powered vehicles. For more information, visit www.sevcon.com.
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Forward-looking statements in this release about Sevcon's award of a contract to supply drivetrain control technology for electric vehicles being manufactured by Zhejiang Xinyang Industry Co. Ltd. are subject to risks and uncertainties that could cause actual results to differ materially from those we anticipate. In particular: the activities contemplated under the agreement could fail to achieve their goals; global demand for electric vehicles may not grow as much as we expect; our customers' products may not be as successful as those of other entrants in the electric vehicle market who are supplied by our competitors; continuing economic instability may cause customers to delay, decrease or cancel purchases of our products; we are dependent on a few key suppliers and subcontractors for most components, sub-assemblies and finished products, and we may not be able to establish alternative sources of supply in time if supplies are interrupted; we have a small number of key customers whose loss would adversely affect our results; and our worldwide operations are subject to the risks of international trade, including without limitation regional economic downturns, exchange rate fluctuations, and changing laws, regulatory practices and tariffs. Please see the company's most recent forms 10-K and 10-Q on file with the SEC for further information regarding Sevcon's risk factors.
CONTACT: Sevcon Contacts: David Calusdian Sharon Merrill Associates 1 (617) 542 5300 dcalusdian@InvestorRelations.com Matt Boyle President and CEO 1 (508) 281 5503 matt.boyle@Sevcon.com