Sevcon Hits Automotive Milestone with Selection by Renault
26 March 2012 - 11:30PM
Sevcon, Inc. (Nasdaq:SEV) today announced its selection by Renault
to supply Gen4 controls for Renault's newly introduced Twizy
two-seater, electric city car. Currently on sale and shipping to
customers in Europe, the Twizy combines the comfort and safety
amenities of an automobile – four wheels, disc brakes, seat belts
and front airbag – with nimble urban handling and parking and a
range of 100km (60 miles) on a single 3.5 hour battery charge.
Renault is offering the Twizy in two versions, with top speeds
of 28 and 50 miles per hour powered by Sevcon Gen4 Size 2 and Size
4 motor controllers, respectively. These microprocessor-based
devices regulate power delivery from the Twizy's lithium-ion
battery to the motor, controlling acceleration, speed and
regenerative braking while optimizing energy consumption.
"Renault's selection of our Gen4 controllers for the Twizy is a
significant milestone for Sevcon as we continue to execute on our
strategy to supplement sales to our customers in the industrial
vehicle segment by capitalizing on opportunities in the on-road
electric vehicle sector," said Sevcon President and CEO Matt Boyle.
"We are proud to add Renault to our portfolio of global automotive
OEM relationships and pleased with the progress we have made this
month in ramping Gen4 controller production and shipments to
support the Twizy launch."
About Sevcon, Inc.
Sevcon is a world leader in the design and manufacture of
microprocessor based controls for zero emission electric and hybrid
vehicles. The controls are used to vary the speed and movement of
vehicles, to integrate specialized functions and to optimize the
energy consumption of the vehicle's power source. The company
supplies customers throughout the world from its operations in the
USA, the U.K., France and the Asia Pacific region and through an
international dealer network. Sevcon's customers are manufacturers
of on and off-road vehicles including cars, trucks, buses,
motorcycles, fork lift trucks, aerial lifts, mining vehicles,
airport tractors, sweepers and other electrically powered vehicles.
For more information visit www.sevcon.com
The Sevcon, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9607
Forward-Looking Statements
Forward-looking statements in this release about Sevcon's
selection by Renault to supply Gen4 controllers for the Twizy
electric vehicle are subject to risks and uncertainties that could
cause actual results to differ materially from those we anticipate.
In particular: global demand for electric vehicles may not grow as
much as we expect; our customers' products may not be as successful
as those of other entrants in the electric vehicle market who are
supplied by our competitors; and we are dependent on a few key
suppliers and subcontractors for most components, sub-assemblies
and finished products, and we may not be able to establish
alternative sources of supply in time if supplies are
interrupted. Please see the company's most recent forms 10-K
and 10-Q on file with the SEC for further information regarding
Sevcon's risk factors.
CONTACT: David Calusdian
Sharon Merrill Associates
1 (617) 542 5300
dcalusdian@InvestorRelations.com
Matt Boyle
President and CEO
1 (508) 281 5503
matt.boyle@Sevcon.com
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