Earlier this month, Advanced Mechanical Products, Inc. (AMP) announced it will use Remy International's motors in its line of converted electric vehicles (EVs). Yesterday, we discovered that a new vehicle – the Chevrolet Equinox – will join the Saturn Sky and the Pontiac Solstice in AMP's conversion line-up. We all know what an Equinox looks like, but AMP will still have a formal unveiling of the vehicle at the New York Auto Show at the end of March. AMP plans to give the electric Equinoxes a top speed of 90 miles per hour and a range of 150 miles per charge. All that for $50,000 (after tax credits
In related news, AMP, a Progressive Automotive X-Prize contender, has opened a U.S. production headquarters in Cincinnati, OH where it says it is currently making and delivering the first batch of AMP EVs (the Sky and Solstice models).
*UPDATE: The $50,000 price includes the Equinox vehicle. We regret the error.
[Source: Advanced Mechanical Products Inc.]
AMP Unveils the 100% Electric GM Chevrolet Equinox
Vehicle Displayed at Grand Opening of Company's First Showroom; Formal Unveiling Set for New York Auto Show
Blue Ash, OH – February 24, 2010 - Advanced Mechanical Products, Inc. (AMP), a company engaged in the all-electric, emission-free conversion of new vehicles, announced today the unveiling of its latest all-electric conversion platform, the GM Chevrolet Equinox, which will be revealed to the world today as part of the grand opening ceremonies of its first showroom.
Today's announcement is one of historic proportions, as the event is poised to make AMP the first to bring to market an all-electric, crossover vehicle for retail sale. The AMP'd Equinox is a converted or up-fitted GM Chevrolet Equinox that is a 100% electric, clean conversion, American-made vehicle. The vehicle will reach a top speed of 90 miles an hour, and will go from zero to 60 miles per hour in approximately eight seconds, with a charge voltage of either 110V or 220V. And with pricing expected to be below $50,000, after government incentives, the Company believes the AMP'd Equinox is also quite affordable.
Citing the Nissan Leaf as its closest rival, the AMP'd Equinox is already setting the bar high. The AMP'd Equinox, utilizing high efficiency Remy motors, will travel up to 150 miles on a single charge, which compares favorably to the Nissan Leaf which will travel up to 100 miles on a charge. The Leaf is not expected to reach the market until January 2011.
Steve Burns, CEO of Advanced Mechanical Products, said, "In a growing electric vehicle market, we believe AMP has clearly established itself as a pioneer. Not only will AMP be the first to reach the market, but we will also be breaking the mold in terms of what the public expects from an all-electric vehicle.
"Pre-conversion, the Chevy Equinox is an outstanding vehicle in its own right - winner of the Consumer Digest Best Buy award and a five-star frontal and side-impact crash safety ratings. This vehicle is truly a modern day car, with all the features and stringent safety requirements the Chevy Equinox is extolled for. We are thrilled to bring our next 100% electric vehicle platform to market, as this latest offering is a clear display of our true passion for, and an unyielding commitment to, the environment and sustainability."
AMP will be hosting the invitation-only grand opening party in its first showroom and U.S. production headquarters, located in Cincinnati, OH. Expected to be in attendance will be select guests and dignitaries, such as Ohio Governor Ted Strickland, and members of the media. The Company will begin taking orders at its opening event and expects the fully-converted vehicle to be available for a June 2010 delivery. AMP intends to have a formal unveiling, with demonstrations available, at the New York Auto Show, which commences on April 2, 2010.
About Advanced Mechanical Products, Inc.
AMP was founded in 2007 by automotive industry veterans who have created several hi-tech companies. Currently, the AMP team is comprised of top engineers and business executives, as well as two key pioneers of GM's EV1 project. AMP's first conversions to all-electric are the GM Saturn Sky and the Pontiac Solstice, with additional vehicles in development, including GM's Chevrolet Equinox. Since its inception last year, the AMP converted all-electric Saturn Sky has proven itself to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP will be converting a wide range of GM vehicles to all-electric, and expects to announce new model conversions in 2010. The Company expects its patent-pending vehicle conversion technology will provide new solutions to America's energy demands.
To learn more, visit the AMP website at 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.