Monday, August 10, 2009

Modec and Navistar to Launch Joint Electric Truck Venture

Great news for the Coventry-based manufacturer
Shipping News Feature

UK / USA- Modec and Navistar International Corporation are finalising a ground breaking joint venture.

President Barack Obama announced on Wednesday a significant grant to stimulate electric vehicle manufacturing in the US. This broadcast took place at the Navistar premises in Elkhart County, Indiana. Navistar was awarded a grant of $39m, which will be used to accelerate electric vehicle production.

The deal would see a Navistar-Modec Joint Venture produce and sell electric commercial vehicles in North, Central and South America. The zero emission all-electric delivery truck would primarily be used for urban-suburban pickup and deliveries.

Modec vehicles, manufactured at their Coventry-based plant, are heralded as the future of urban transport and are designed from the ground up as an electric commercial vehicle. Modec vehicles are operated by high profile companies such as FedEx and UPS as well as Tesco, the UK’s largest supermarket chain.

“The all-electric delivery vehicle is a concrete example of what business and government can do when we work together.” said Daniel C. Ustian, Navistar Chairman, President, and CEO. “The future is now with this electric vehicle. In fact, we already have interested customers, including some of the most respected names in the industry.”

“Modec is delighted to be finalising a Joint Venture with Navistar,” said Bill Gillespie, Chief Executive of Modec. “The positive impact on Modec and the electric vehicle world will be significant and this is a true sign of evolution in the automotive industry.”

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