• Dec 29, 2010
If you liked the E-REV powertrain that Raser Technologies brought to SAE 2009 (and later, to the Moab) wrapped up in a Hummer H3 and wondered when that tech might get commercialized, well, wonder no more. Via Motors has now emerged to do just that.

While there hasn't yet been a blaring of trumpets and a shower of press releases, the company's website has just gone live. It reveals their initial offering to be a re-grilled GMC Chevrolet pickup available to fleets in 2011, with sales to individuals coming in 2013. The pickup – available in standard, extended and crew cab – can be optioned with a 20- or 40-mile battery pack and features "exportable power" with 120 volts or 120 and 240 volts.

The electric motor is the Symetron AC induction 200 kW (268 horsepower) connected to an automatic transmission and transfer case that can deliver 4WD. Under the hood, a 2.0 liter engine waits to power the 100 kW generator which feeds the electric motor directly and recharges the liquid-cooled battery packs.

We're sure there will be a lot more details when the company officially launches. For now, click past the break for the Raser Technologies press release that announced this upcoming commercialization arrangement, along with a video detailing their E-REV drivetrain.


[Source: Via Motors]

PRESS RELEASE


Raser Closes Transaction With Major Investor Launching A New Electric Vehicle Company Using Raser's Technology

New Electric Vehicle Company Purchases Raser's Automotive Group and Technology to Commercialize Extended Range Electric Trucks and SUVs

Provo, UT, November 23, 2010, Raser Technologies, Inc. (OTCBB: RZTI), an energy technology company, announced today that it has finalized a transaction with a group of private investors lead by California investor Carl E. Berg to form a new electric automotive company focused initially on trucks and SUVs for fleet customers.

Mr. Berg has strategic holdings in a leading lithium ion battery company and an electric vehicle manufacturing company specializing in medium duty electric trucks and delivery vehicles. In the transaction Mr. Berg will initially capitalize the new company with $4.5 million, of which Raser will receive $2.5 million in cash; $1.5 million was paid at closing and the remainder to be paid by December 20, 2010. The balance of $4.5 million will be used as working capital for the new company.

"We have been working on separating the automotive and renewable energy segments, and believe that this will allow both businesses to operate and attract capital more efficiently," said Kraig Higginson, Chairman of Raser Technologies. "We have been successful in the development of a very promising E-REV powertrain technology. We are pleased that it will soon be offered commercially in America's most popular vehicle, the pick-up truck, by an exciting new electric vehicle company. The new company plans to begin delivering the first extended range electric trucks to fleet customers beginning the end of this year."

In addition to cash, Raser receives a 39% interest in the new company and will retain the right to appoint one of the three members of the new company's board of directors.

Mr. Berg commented, "I am very pleased with the acquisition and the opportunity for rapid growth in the electric vehicle market based on Raser's strategic position, orders and their E-REV truck technology. I believe that this automotive company will offer a completely new kind of work truck to help electrify the largest segment of the automobile business and convert thousands of soft orders into deliveries over the next few years."


About Raser Technologies

Raser (OTCBB:RZTI) is an environmental energy technology company focused on geothermal power development and technology licensing. Raser's Power Systems segment develops clean, renewable geothermal electric power plants with one operating plant in southern Utah and eight active and early stage projects in four western United States: Utah, New Mexico, Nevada and Oregon, as well as a concession for 100,000 acres in Indonesia. Raser's Transportation and Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser's award-winning Symetron™ technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.


Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding; our beliefs about our ability to develop, build and sell plug-in electric vehicles; our beliefs about our ability to complete this transaction resulting in the formation of Via Automotive Inc.; our beliefs about the opportunity for rapid growth in the electric vehicle market; our beliefs about our ability to develop and deliver electric vehicles; our beliefs about the performance and market applicability of our products and technology; our beliefs about the status and enforceability of our intellectual property; our beliefs about the performance capabilities of our technology; our beliefs about the capabilities, expertise and intentions of our partners and potential partners. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology and third-party technology for the intended applications; our ability to attract, train and retain key personnel; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended September 30, 2010, as filed with the Securities and Exchange Commission, and all subsequent filings.


All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




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    • 1 Second Ago
  • 9 Comments
      • 4 Years Ago
      I love the idea but this is going to be very expensive. Best of luck to them.
      • 4 Years Ago
      "The electric motor is the Symetron AC induction 200 kW (268 horsepower) connected to an automatic transmission and transfer case"

      That's all I needed to hear to know they really don't know what they're doing. Electric drive doesn't really need a complex transmission, and automatic transmissions are notorious for energy losses, not good for electric drive efficiency.

      Moreover, a "series only" design is inherently less efficient than a series/parallel design as is used by Toyota, Ford, and GM, due to energy conversion losses.
      • 4 Years Ago
      Excellent news. The Raser Symetron motor is one of the most advanced designs, similar to the Tesla motor. I have been wondering where it would show up. Raser has also sold license to Hyundai. This should be a real winner.

      I think GM should take a hint from Ford. Ford has Azure Dynamics modify their Transit van and then sells through the Ford dealer network, same will be for the Fusion modified by Magna. GM should make a deal with Via Motors to sell this and provide warranty and service.
        • 4 Years Ago
        No, I don't think so. GM already has two different hybrid systems, their "Dual Mode" hybrid, and their "Voltec" plug-in hybrid, that are more efficient and work better than this design. Both of those GM hybrid designs can reduce energy conversion losses by transmitting part of the mechanical energy from engine direct to the wheels, thus achieving higher efficiency.

        Magna and Azure Dynamics have a better reputation than Raser, with more technical know-how and more manufacturing experience.
      • 4 Years Ago
      This is one heavy duty machine. The transmission is BEEFY for trucks and heavy loads. It was not designed for compact cars. Finally an electric truck!!! The small back up motor will be great for charging the batteries and keeping you going on long trips. I wish I had one now!!!
      • 4 Years Ago
      "It reveals their initial offering to be a re-grilled GMC pickup available to fleets in 2011"

      The truck listed on their website is clearly a re-grilled Chevy Silverado, not a GMC. Although I don't care what truck they re-grilled, that grille is FUGLY!
      • 4 Years Ago
      It is, obviously, a Chevy, not a GMC.

      2.0L? Why can't they do it with my 6.6L DMax? I'm sure it'll generate tons of electrons for topping off the tiny battery....

      -bZj
      Visvanadham Gosika
      • 2 Years Ago
      when we expect, what price in India ?
      • 4 Years Ago
      "re-grilled" with THAT thing means to me it would be easily "de-grilled" back to the Chevy or GM grill.