As part of an initial deployment of US DOE grants for hybrid school buses, Enova Systems (ENA) and Navistar (NAV) will deploy an initial lot of 16 buses to various school districts. The companies expect to win more work as additional tax credits and incentives become available for school districts who wish to deploy cleaner buses. With Navistar (NAV) owning 60% of the US bus market, they may get a nice chunk of this business, … Read the rest
Category Archives: Electric/Hybrid Cars
UQM Technologies (UQM) Sinks On Earnings, Piper Jaffray Downgrade
UQM Technologies (UQM) reported earnings last night that were in line with the analyst estimate of a .03/share loss on the EPS side, but missed the revenue estimate of $2.39 million (posting $2.28 million). This is a company that continues to struggle, but sees potentially rapid growth next year with the CFO predicting profitability in Q1 2011 with some help from the DOE.
CFO Donald French commented: “During the first quarter of fiscal 2011 we … Read the rest
Toyota (TM) Invests $50 Million In Tesla Motors To Produce Electric Sedan
Toyota Motors (TM) and Tesla Motors announced this morning that they are partnering to produce Tesla electric cars in a recently closed Toyota/GM plant in Fremont, California. The plant was closed just a few weeks ago, taking 4,700 jobs with it, but reviving the plant is good news at least for a portion of the workers. When production begins in 2012, about 1000 workers will be needed.
Tesla currently sells the Roadster, but the new … Read the rest
UQM Technologies (UQM) To Supply Electric Propulsion Systems To Cali EV Company
UQM Technologies (UQM) announced today it will supply upgraded electric propulsion systems to Electric Vehicles International, a California electric manufacturer, for use medium trucks and van’s. Fifty of the upgraded PowerPhase 150kW systems will be delivered in June and be completed by October. No word on the total number of systems or financials of the deal.
===> Click Here For Your FREE UQM Technologies Analysis
“We are pleased that EVI has selected UQM(R) PowerPhase(R) … Read the rest
Valence (VLNC) Signs Supply Agreement With Optare Worth Up to $3.8M
Valence Technology just announced that it has signed a supply agreement with Optare PLC. The 3-year, exclusive supply agreement makes Valence the exclusive battery supplier for the Optare Solo EV zero-emissions electric bus. The agreement is expected to generate up to $3.8 million in battery sales for Valence.
===> Click Here For Your FREE Valence Analysis
In a press release, Robert L. Kanode, president and CEO, Valence Technology, commented on the news:
“This appointment … Read the rest
UQM Technologies (UQM) Announces Supply Agreement With Electric Vehicles International
UQM Technologies just announced that they have a one-year agreement with Electric Vehicles International LLC (EVI) to supply EVI with supply upgraded UQM(R) PowerPhase(R) 150kW electric propulsion systems. EVI plans to use the propulsion systems in their new all-electric medium-duty trucks and walk-in vans. The systems will be delivered between June and October of 2010.
=====> Click Here For Your FREE UQM Technologies Analysis
In a press release, William G. Rankin, UQM Technologies’ President and … Read the rest
Kandi Tech (KNDI) Reports Strong Results, But Future Depends On Electric Car Growth
Kandi Technologies (KNDI) reported strong earnings results this morning with an EPS of .04/share on revenues of $8.25 million. That’s a big improvement over the year ago quarter in which the company reported a loss of .03/share on revenues of $4 million, but no so impressive when you compare it sequentially. The company had been reporting accelerating revenue growth with $4 million, $5.5, $9.6 and $14.7 million over the last 4 quarters, so the $8.25 … Read the rest
Analysts Maintain Ratings On A123 Systems (AONE), But Cut Price Targets
A couple analyst notes out after the A123 Systems (AONE) earnings last night.
Janney Montgomery Scott maintains a Neutral rating, but lowers price target from $14 to $12. “AONE reported 1Q10 results that were in-line on the top line, while falling slightly short of consensus on the EPS line. We were surprised by the quarter-over-quarter drop in total shipments and are adjusting our shipment forecasts for slightly slower growth. On the positive side, the Company … Read the rest
Kandi Technologies (KNDI) To Sell COCO Electric Vehicle In China
Kandi Technologies has just announced that, after an extensive testing process, they have received government approval to sell their COCO electric vehicle to Chinese consumers and government agencies.
In a press release, Mr. Xiaoming Hu, Kandi’s Chairman and CEO, commented on the news:
“This was a long awaited announcement for us, culminating years of effort to develop and market in China an economical all electric vehicle meeting government standards that could become one of … Read the rest
Advanced Battery Tech (ABAT) Beats On Strong Electric Bike Sales
Advanced Battery Tech (ABAT) beat estimates after the bell today posting an EPS .04 cents better than analyst estimates at .11/share . Revenue for the quarter was $19.5 million, which compares to the estimate of $18.82 million. That’s nearly a doubling of revenues over the year ago quarter, but about in line with what they reported last quarter ($21.5 in revs). All in all, a nice a quarter from ABAT. It appears their electric bike … Read the rest