TORONTO, April 9 /CNW/ - Azure Dynamics Corporation (TSX: AZD & LSE: ADC)
("Azure" or the "Company") a leading developer of hybrid electric and electric
powertrains for commercial vehicles, today announced it has signed a supply
agreement with Electro Autos Eficaces of Mexico ("EAE").
The initial order is for 1,000 drive systems for integration into the
Nissan Tsuru platform, which is commonly used in the municipal fleet of Mexico
City. The Tsurus are being converted from gasoline powered vehicles to
electric vehicles as part of Mexico City Mayor Marcelo Ebrard's initiative to
improve air quality and general health and quality of life in the city. Mayor
Ebrard will drive the first converted vehicle to the International Electric
Vehicle Forum on May 8, 2007 in Mexico City. The balance of the 1,000 vehicles
will be converted over the following 18 months. Azure's scope of supply for
the 1,000 drive systems includes the motor, controller, gearbox and DC-DC
converters and is valued at more than CDN$7.0 million.
Campbell Deacon, Azure's CEO said, "We are very pleased to have our
product chosen for this program. EAE's business has been established to
deliver electric vehicle transportation to both the public and private sectors
in Mexico City with a goal of expansion throughout all of Mexico. We believe
our technology, cost competitiveness and reliability have factored into EAE's
selection of Azure Dynamics for this program."
EAE's Luis Pérez Quintana stated, "Mexico City currently operates over
25,000 Nissan Tsurus to conduct government business throughout the city.
Converting the first 1,000 Tsurus of the existing fleet into electric
vehicles, shows the City's commitment to providing an immediate response to
the Climate Change challenge. Mexico City is the third largest city in the
world with a population of approximately 25 million people. The newly elected
mayor, Marcelo Ebrard, has set a Sustainable City criteria for his tenure,
making the environment and clean transportation a major part of his governing
The agreement also includes the potential for Azure to supply a broad
range of electric and hybrid electric drive systems and components for various
other vehicle applications in Mexico.
About Electro Autos Eficaces S.A. de C.V.
Electro Autos Eficaces is a Mexican corporation whose goal is the
integration of the world's best technologies into zero emission transportation
solutions for Mexico, with a clear focus on creating job opportunities with
the application of such technologies. Based in Mexico City, EAE provides both
EV solutions and the specialized training to make them available to the
general public in the short term.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) is a world leader in the
development and production of hybrid electric and electric components and
powertrain systems for commercial vehicles. Azure is strategically targeting
the commercial delivery vehicle and shuttle bus markets and is currently
working internationally with various partners and customers. The Company is
committed to providing customers and partners with innovative, cost-efficient,
and environmentally-friendly energy management solutions. Azure Dynamics'
operations are based in North America and Europe.
For more information please visit www.azuredynamics.com.
The TSX and LSE Exchanges do not accept responsibility for the adequacy
or accuracy of this release.
NOTE: The foregoing information may contain forward-looking statements
which involve known and unknown risks, uncertainties and other factors
which may cause the actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. Such factors include, but are not limited to: the ability to
raise the capital required for product development and operations,
product development delays, changing environmental regulations, the
ability to attract and retain business partners, competition from other
developers of hybrid electric vehicle control systems, competition from
other advanced or existing power technologies, evolving markets for power
for transportation vehicles. These factors should be considered carefully
and readers should not place undue reliance on Azure's forward-looking
statements. Investors are encouraged to review the risks detailed from
time to time in the company's filings with regulatory authorities.
For further information:
For further information: Mark Federle, Senior Vice-President, Sales,
(781) 932-9009, Email: email@example.com; Steven Glaser,
Vice-President, Corporate Affairs, (416) 367-0220 ext 105, Email: