New joint venture to provide electric propulsion systems for buses and trucks in Asia
BOUCHERVILLE, QC, Feb. 8, 2012 /CNW Telbec/ - TM4, a subsidiary of Hydro-Quebec, and Prestolite Electric Beijing Limited (PEBL), have entered into an agreement for the creation of a sino-foreign equity joint venture company named Prestolite E-Propulsion Systems (Beijing) Limited (PEPS). Leveraging TM4's licensed technologies, the new company will focus on providing high-end solutions for clean transport and sustainable mobility by developing, manufacturing, selling and supporting electric traction systems for trucks and buses, as well as commercial, off-road and marine vehicles. The new joint venture will target clients in the People's Republic of China, Taiwan, Hong Kong, Macao, Indonesia, Philippines, Thailand, Singapore and the rest of ASEAN countries.
"China's public transportation sector is growing at a rapid pace and local government has clearly indicated its desire to lower emissions and enhance air quality by integrating more energy-saving technologies into its heavy duty vehicles. Given the size of the market, it was important for us to partner with an organisation that has a strong presence in the region," said Claude Dumas, President of TM4. "PEBL's extensive network in ASEAN markets, outstanding reputation for product quality and service excellence, combined with TM4's best-in-class patented technologies positions the joint venture for success in the key bus and truck segments."
TM4 will continue to supply the ASEAN markets with technologies related to light electric vehicles. As well, all TM4 technologies related to the transportation and energy sectors will be offered on other markets across the globe.
"We are eager to offer TM4's expertise in power electronics, electric motors and generators, vehicle controllers and vehicle integration to our clients over the coming years. Their successful delivery of product designs over the past 13 years and the quality, safety and reliability of their development methods are second to none," said Charles Tse, Member of the Board of Directors and Director of PEBL. "We believe this partnership will be a significant driver in the development of electric transportation in China."
The joint venture's first objective is to be able to accept orders with delivery dates in 2013.
According to the Organization of Motor Vehicle Manufacturers, China accounted for 40% of the world's production of heavy-duty buses in 2010 and PEBL products are contained in 85 % of the medium and large buses and 38 % of the heavy duty trucks made in China. PEBL has 23 district offices, 31 regional distributors and more than 170 service points in Asia.
This new agreement falls within the range of activities stemming from the economic mission to China led by Québec Premier Jean Charest in August 2011.
A wholly owned subsidiary of Hydro-Québec established in 1998, TM4 pioneered the electric propulsion system technology developed by Hydro-Quebec's renowned research center (IREQ). Today, it provides customers in more than a dozen countries with patented technology and distinctive expertise in electric motors, generators and inverters for the transport and energy markets. Products include customized electric drivetrains for electric vehicle and hybrid vehicle manufacturers, and generators for wind turbine and gen-set manufacturers.TM4 is located in Boucherville, Québec. For more information, visit www.tm4.com.
Prestolite Electric (Beijing) Limited (PEBL) was established in March, 2001. In the markets it serves, PEBL is the largest and most modern manufacturer of heavy-duty rotating electric systems in China. Its customers include nearly every manufacturer of small to large displacement diesel engines, mid-size to large-size buses, light-duty to heavy-duty trucks, mid-grade to high-grade off-road equipments and marine engines and gen-sets. PEBL has an annual production capacity of one million alternators and five hundred thousand starter motors. PEBL's gross sales in 2011 were over 170M USD of which about 10% was generated from export sales. The company's products are exported to over 80 countries and regions throughout the world. In addition to its more than 170 service stations in China, PEBL is expanding its sales and service network worldwide. The company currently employs 1,300 people. For more information, please visit www.prestolite-bj.com
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