AUSTIN, Texas, Nov. 1, 2012 -- KLD Energy Technologies, Inc. (KLD), whose breakthrough motor propulsion system is redefining the performance of electric propulsion and generation systems in dozens of industries, and Cenntro Group Limited, a leading developer of diesel and LPG powertrains for industrial, agricultural, transportation and construction equipment worldwide, announced today that they have entered into a relationship to jointly develop 4-wheel electric vehicles which will incorporate KLD's innovative electric vehicle drive system technologies.
Some of the first systems planned to go into the market will be the Utility Electric Vehicle (UEV) – an off-road and on-road work and maintenance vehicle, the Neighborhood Electric Vehicle (NEV) – a low-speed vehicle, and the Intra-city Logistic Vehicle (ILV) – a compact delivery vehicle similar to those used by major overnight delivery services. The initial focus is on the US, Europe and China, with the electric vehicle market in China expected to be among the fastest growing in the world.
"This partnership is consistent with our focus to bring the highest quality products and technology to the world market. We are delighted to be working with KLD to develop utilitarian vehicles powered by KLD's innovative high efficiency electric drive systems," said Peter Wang, Chairman of Cenntro Group Limited, who previously co-founded Unitech Telecom, which is now UTStarcom.
KLD's revolutionary motor system—comprised of the motor, battery pack and controller—significantly advances practical use of electric propulsion with potentially enormous positive environmental and social implications. The system is applicable in a broad range of high-volume products that rely on efficient, high-torque motors, including motorcycles and scooters, three and four wheel on and off road vehicles, equipment for wind-energy generation, elevators and escalators, air conditioners, pumps and multiple other applications. KLD and Samsung SDI recently entered into a cooperative relationship to jointly develop state-of-the-art battery systems which will incorporate Samsung SDI's industry-leading lithium-ion battery cells and KLD's innovative electric vehicle drive technologies, enabling KLD to provide one of the safest and most cost-effective battery system solutions in the industry.
Christian Okonsky, KLD's CEO, remarked, "KLD is excited to enter into a relationship with an industry leader like Cenntro. We fully anticipate that their vehicles, with KLD's electric motor systems, will be the most cost competitive highest efficiency, longest range solution on the market today."
About Cenntro Group Limited
Cenntro Group Limited owns a number of operations in China and the United States including Zenith Power Products, LLC (www.zenithpp.com) and Xinchang Cenntro Machinery Co., Ltd. and is a major shareholder of Sinomachinery Group Limited, (www.sinomachinery.com). This group of companies design, manufacture and market diesel, gasoline and liquid propane engines, transmission systems and integrated power solutions. For over fifty years they have been the leading provider in China of power systems and related components for off-road vehicles such as forklifts, tractors, harvesters, excavators and loaders, as well as in diesel generators and light-duty trucks. With strong research and development capabilities, modern manufacturing facilities and a nationwide after-sales service network, they serve approximately 400 equipment and vehicle manufacturers throughout China including Doosan, Foton Lovol, General Motors, Hangcha, Heli, Hyundai, John Deere, Kion, Komatsu, Liugong, Lonking, Mahindra, New Holland, Shantui, Tailift, TCM, Volvo, YTO Group, and Zoomlion.
About KLD Energy Technologies Inc.
Austin, Texas-based KLD Energy Technologies' mission is to develop innovative, sustainable technologies. The company, focused on the research, development and commercialization of advanced technologies, has received acclaim and worldwide interest in its first product, a complete system that redefines the performance of electric propulsion and generation systems in dozens of industries. The system is designed for high-frequency operations, offering revolutionary system efficiency. KLD Energy Technologies is dedicated to bringing clean technologies to a global marketplace. The company recently won an Edison Award for innovation and excellence for energy sustainability technology for transportation. For more information, visit www.KLDEnergy.com.
Contact: Tom Carothers
SOURCE KLD Energy Technologies, Inc.