Enova &Freightliner display Green for Free Vehicle
January 26 2012 - 9:00AM
RNS Non-Regulatory
TIDMENV
Enova Systems, Inc.
26 January 2012
Enova Systems Inc
("Enova" or "the Company")
Enova and Freightliner display Green for Free(TM) Vehicle
Portland International Auto Show expects 150,000 attendees
TORRANCE, CA January 26, 2012 - Enova Systems, Inc. (NYSE AMEX:
ENA and AIM: ENV and ENVS), a leading developer of proprietary
hybrid electric and all-electric drive systems and drive system
components for the emerging green commercial vehicle market is
pleased to announce that one of the first pre- production vehicles
resulting from Enova's and Freightliner Custom Chassis Corp's
(FCCC) recently announced Green for Free(TM) initiative be on
display at the Portland International Auto Show January 26-29(th)
.
The Portland International Auto Show estimates that around
150,000 attendees will have the opportunity to view the latest
Green, Alternative Fuel and Electric Vehicle Concepts at the Auto
Show's Eco Center. In its second year as one of the largest Eco
Centers in the nation, visitors will be able to find out more about
the latest technology in vehicle charging, solar power and a large
range of electric and electric hybrids and alternative fuel
vehicles.
The Green for Free(TM) Program is designed to allow fleet
executives to operate full 100% electric commercial vehicles (EVs)
for similar life cycle costs as those of diesel-powered commercial
vehicles. The anticipated savings fleets are expected to realize
from the reduced maintenance and fuel cost of electricity of the
electric vehicles are used over a period of time to cover the
incremental expense for the technology. Fleet vehicles targeted
with the Green for Free(TM) Program stand out as possessing unique
characteristics that make them clear beneficiaries of electric
drive technology. With more than 16.3 million vehicles in
operation, the nation's fleets possess enough capacity to drive
initial ramp-up scale in the EV OEM supply chains. This is the
first Program that is engineered to eliminate the overall
incremental costs associated with buying and operating an
all-electric vehicle, making the Program attractive to fleets that
are both large and small.
FCCC and Enova plan to gradually deploy a total of 3,000
alternative-fuel vehicles beginning in the second half of 2012 as a
result of the Green for Free(TM) Program. ENOVA and FCCC have
defined the Green for Free(TM) Program as a new sustainable
transportation model in which both companies are working in
partnership with commercial fleets to offer a transportation model
that provides clean, safe domestic and renewable energy.
About Enova:
Enova Systems (http://www.enovasystems.com) is a leading
supplier of efficient, environmentally friendly digital power
components and systems products. The Company's core competencies
are focused on the development and commercialization of power
management and conversion systems for mobile applications. Enova
applies unique 'enabling technologies' in the areas of alternative
energy propulsion systems for light and heavy-duty vehicles as well
as power conditioning and management systems for distributed
generation systems. The Company develops, designs and produces
non-invasive drive systems and related components for electric,
hybrid-electric, and fuel cell powered vehicles in both the "new"
and "retrofit" vehicle sales market. For further information,
contact Enova Systems directly, or visit our Web sites at
www.enovasystems.com
ENOVA SYSTEMS, Inc. 1560 West 190th Street, Torrance, CA
90501
Tel: 310-527-2800, Contact: John Micek, CFO/Investor Relations
About Green for Free(TM):
The Green for Free(TM) Program intends to allow fleet executives
to purchase all-electric vehicles for the cost of a diesel-powered
commercial vehicle. The projected savings fleets incur from the
reduced maintenance and fuel savings of the electric vehicles (EVs)
are then used over a period of time to cover the incremental
expense for the technology. FCCC and Enova plan to gradually deploy
a total of 3,000 alternative-fuel vehicles beginning in the second
half of 2012 as a result of the Green for Free(TM) Program. The
Green for Free(TM) Program will utilize the FCCC All-Electric
Walk-in Van (WIV) chassis powered by the Enova drive system. FCCC
is already well-established in the market and can provide immediate
volume, which is required to reduce high-cost components, such as
batteries. Additionally, the project looks to focus on disciplined
duty cycles, utilizing 80 percent of the battery daily, versus
design for extended range. For further information, contact Enova
Systems directly, or visit our Web site at:
www.greenforfree.com
About Freightliner Custom Chassis Corporation:
Freightliner Custom Chassis Corporation manufactures premium
chassis for the motorhome, delivery walk-in van, and school bus and
shuttle bus markets. Freightliner Custom Chassis Corporation is a
subsidiary of Daimler Trucks North America LLC, a Daimler company.
For further information, visit the Freightliner Custom Chassis
Corporation website at www.freightlinerchassis.com
Additional Information:
This news release contains forward-looking statements relating
to Enova Systems and its products that are intended to be covered
by the safe harbor for forward-looking statements provided by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts. These
statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "will, " "should,"
"could," "project," "plan," "seek," "intend," or "anticipate" or
the negative thereof or comparable terminology and statements about
industry trends and Enova's future performance, operations and
products. These forward-looking statements are subject to and
qualified by certain risks and uncertainties. These and other risks
and uncertainties are detailed from time to time in Enova Systems'
periodic filings with the Securities and Exchange Commission,
including but not limited to Enova's annual report on Form 10-K for
the year ended December 31, 2010 and Form 10-Q for the fiscal
quarter ended September 30, 2011.
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END
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