Our E-GEN Drive trucks, with vouchers, offer a three-year payback and are now in the same price range as comparable gasoline powered trucks.
Cincinnati, OH (PRWEB) February 03, 2014
AMP Holding Inc. (OTCBB and OTCQB: AMPD) announced today that it has filed a provisional patent for a new system that extends the range of electric vehicles while reducing the overall cost of the typical battery electric power train. The new system, E-GEN Drive™ is designed specifically for the package delivery vehicle market in which the diesel and/or gasoline-powered vehicles in use now stop and restart hundreds of time a day.
Steve Burns, AMP CEO, announced the new technology, “We believe that battery electric technology is an ideal fit for urban and suburban delivery routes and we understand fleet owner’s concerns about range anxiety and cost. Our E-GEN Drive system will enable them to keep the batteries recharged to a consistent state of charge throughout the day and, since we are able to use smaller battery packs, we can reduce the cost of the entire system. Our E-GEN Drive trucks, with vouchers, offer a three-year payback and are now in the same price range as comparable gasoline powered trucks.”
“Our association with Power Solutions International (NASDAQ: PSIX) provides us with multi-fuel engines that function as generators. When the ignition is shut off, the engine automatically turns on and recharges the battery pack. When the ignition is turned back on, the engine turns off and the vehicle reverts to all-electric power. The engine and the battery-powered motor are never in use at the same time. It’s not a traditional hybrid, it’s an extended-range electric vehicle.” added Don Wires, AMP’s Chief Technology Officer.
This latest filing adds a new provisional patent to AMP’s growing list of intellectual property innovations that include patent numbers: US 7,559,578 B2;
US 7,717,464 B2; US D561,079 S;US D561,078S, and US 8,541,915 B2.
The new trucks will be built at the Workhorse plant in Union City, IN. In addition to battery electric power, AMP can also equip its Workhorse chassis with gasoline, propane, or CNG engines. Its trucks are serviced through a nationwide network of Workhorse dealers.
About AMP Holding Inc.
AMP Holding, Inc. is the parent company of AMP Electric Vehicles Inc. and AMP Trucks, Inc. Amp Electric Vehicles manufactures electric drive systems for medium-duty, class 3-6 commercial truck platforms. AMP Trucks, Inc., which purchased the assets of Workhorse Custom Chassis LLC from Navistar in March of 2013, can equip its Workhorse chassis with gasoline, propane, or CNG engines. For additional information visit http://www.ampelectricvehicles.com
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
AMP Holding, Inc.
AMP Electric Vehicles