(Source: Azure) Toronto, Ontario - August 02, 2007 -
Azure Dynamics Corporation a leading developer of hybrid electric and electric powertrains for commercial fleet vehicles, today announced it has signed a Memorandum of Understanding (“MOU”) with Utilimaster Corporation (“Utilimaster”), a leading builder of step vans, commercial truck bodies and utility vehicles, for the assembly, hybridization and manufacturing engineering of Azure’s P1 hybrid electric commercial delivery vans and shuttle buses.
Under proposed terms of the MOU, Azure will provide Utilimaster with its P1 hybrid electric powertrains, which Utilimaster will integrate into Ford Motor Company’s (“Ford”) E-Series commercial chassis at Utilimaster’s manufacturing facilities in Wakarusa, Indiana.