ZHEJIANG, China, Oct. 15, 2012 /PRNewswire-FirstCall/ --
SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or "the
Company"), a leading supplier of brake and control systems to
the global commercial vehicle industry, today announced that the
Company obtained a patent in the People's
Republic of China ("PRC") for a new proprietary electric air
dryer that is specifically designed for new energy electric buses
and specialty commercial vehicles. Equipped with an internal
electronic control unit to achieve continuing desiccant
regeneration, SORL's new electric air dryer has a prolonged useful
life and improves the working environment of the vehicle's air
control system. As a result, the dryer extends the operating life
of the entire air control system and improves the vehicles' safety
performance. The patent will be in effect from 2012 through
2030.
Desiccants in the air dryer are used to absorb moisture and dust
to make sure the compressed air is clean when it goes into the air
control system. Eventually the desiccants can become full of
moisture and dust so the dryer becomes ineffective. Desiccant
regeneration prevents moisture and dust saturation to ensure
continued dryer operation.
A traditional air dryer controls desiccant regeneration through
the cut-off pressure within the drying cylinder. However, due to
the higher consumption of gas, some municipal buses cannot generate
sufficient cut-off pressure over a long operational period, thus
rendering the dryer ineffective. The functionality of the whole air
control system is affected.
The new electric air dryer's electrical control unit consists of
a built-in chip (ECU), a sensor and three electrical valves,
providing additional control methods for the regeneration of the
desiccants, such as cumulative time, differential pressure, etc.
These new methods avoid the risk of not regenerating desiccants due
to insufficient cut-off pressure, resulting in the continued
operation of the air dryer and of the whole air control system.
Huaping Wang, the chief engineer
of the SORL, commented: "China's
automobile strategy is to develop new energy, electric vehicles. We
are continuously making technological innovations and breakthroughs
to meet or exceed the new demands of our clients. Through
innovation we are maintaining our leadership position in the
traditional brake and control systems as we provide new solutions
targeting new energy vehicles to sustain our Company's growth."
The State Council issued the "energy-saving and new energy
automotive industry development plan (2012-2020)" directive
identifying that pure electric drive is the main strategic
orientation of new energy vehicles. SORL's mission is to help
industrialize pure electric and plug-in hybrid vehicles, promote
and popularize non-plug-in hybrid vehicles, and enhance
energy-saving combustion engine vehicles, to increase the overall
technological level of China's
automotive industry.
According to the plan, by 2015, the cumulative production and
sales of pure electric and plug-in hybrid vehicles will reach
500,000 units. By 2020, the production capacity of pure electric
and plug-in hybrid vehicles will reach 2 million units, while
cumulative production and sales are expected to exceed 5 million
units. Development of battery-powered and hydrogen-powered
technologies will increase with the growing acceptance of
new-energy vehicles globally.
About SORL Auto Parts, Inc.
As a global tier one supplier of brake and control systems to
the commercial vehicle industry, SORL Auto Parts, Inc. is the
market leader for commercial vehicles brake systems, such as trucks
and buses in China. The Company
distributes products both within China and internationally under the SORL
trademark. SORL is listed among the top 100 auto component
suppliers in China, with a product
range that includes 65 categories with over 2000 specifications in
brake systems and others. The Company has four authorized
international sales centers in UAE, India, the United
States and Europe. SORL is
working to establish a broader global sales network. For more
information, please visit http://www.sorl.cn.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will", "believes",
"expects" or similar expressions. These forward-looking statements
may also include statements about the Company's proposed
discussions related to its business or growth strategy, which are
subject to change. Such information is based upon expectations of
the Company's management that were reasonable when made, but may
prove to be incorrect. All of such assumptions are inherently
subject to uncertainties and contingencies beyond the Company's
control and upon assumptions with respect to future business
decisions, which are subject to change. The Company does not
undertake to update the forward-looking statements contained in
this press release. For additional information regarding known
material factors that could cause the Company's results to differ
from its projected results, please see its filings with the SEC,
including its Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K. Copies of
filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov.
Contact Information
Raymond Lin
86+13967776556
86+577+65817721
Email: ljf@sorl.com.cn
Phyllis Huang
86+15167705972
86+577+65817721
Email: Phyllis@sorl.com.cn
Kevin Theiss
Grayling
+1 646 284 9409
Email: kevin.theiss@grayling.com
SOURCE SORL Auto Parts, Inc.