Azure Dynamics, which develops electric-drive powertrains for automakers such as Ford Motor Co., said it will file for financial protection from its creditors under Canadian law and will cancel its plans to sell shares in what may be a precursor to a bankruptcy filing.

The company said in a statement Monday that it filed for protection in a petition to the Supreme Court of British Columbia under the Companies' Creditors Arrangement Act (CCAA). Azure Dynamics, whose U.S. stock traded for about $11 a share a year ago, was trading on the Pink Sheets at about a quarter Tuesday.

"We wish to convey to the Company's stakeholders both our terrible sadness at this outcome and our commitment to pursuing the best outcome remaining available in the circumstances through CCAA proceedings."

Azure Dynamics, which makes the powertrain for the Ford Transit Connect Electric utility vehicle, joins a list of companies that were looking to capitalize on an increase in demand for battery-electric and plug-in hybrid-electric vehicles but have had problems staying afloat. Extended-range plug-in utility vehicle maker Bright Automotive folded last month amid its claims that the federal government took too long to process the $400 million in loans promised to the company, while Fisker Automotive, which makes the extended-range plug-in Karma, has faced questions about its own future and most of the federal government loans earmarked for the company have been delayed.

Through the first nine months of 2011, Azure Dynamics' revenue almost tripled to $23.1 million but its net loss widened 45 percent from a year earlier to $25.8 million. The company's cash balance as of September 30, 2011, was $1.29 million, down from $11.7 million at the end of 2010.
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Azure Dynamics Announces Commencement of CCAA Proceedings Previously Announced Offering of Units to be Abandoned

Burnaby, BC – March 26, 2012 – – Azure Dynamics Corporation (the "Company" or "Azure") (TSX: AZD)(OTC: AZDDD), a world leader in the development and production of hybrid electric, and electric components and powertrain systems for commercial vehicles, today announced that the Board of Directors of the Company has authorized the filing of a Petition in the Supreme Court of British Columbia for an Initial Order under the Companies' Creditors Arrangement Act (the "CCAA"). The Company expects that the Initial Order will provide for a stay of proceedings while the Company and its subsidiaries pursue restructuring alternatives under CCAA protection. The Board of Directors of the Company has also authorized the filing of a voluntary petition under Chapter 15 of title 11 of the United States Bankruptcy Code to seek recognition and enforcement in the United States of the Initial Order requested in the CCAA proceedings.

In connection with commencing CCAA proceedings, the Company also announced that it will be abandoning its previously announced offering of units (the "Offering").

"The decision to abandon the Offering and commence CCAA proceedings comes after several weeks of formal and informal communications with Staff of the Ontario Securities Commission", said Scott Harrison, CEO of Azure. "Despite including detailed risk factor and other disclosure in the preliminary prospectus regarding the Company's liquidity and financial hardship, and after several weeks of attempting to satisfy the demands of Staff for additional information and disclosure, the Company was informed on March 23, 2012 that Staff's recommendation, based on the current draft of the prospectus, would be that a receipt not be issued for the prospectus on the basis that it would not be in the public interest to do so."

In light of the fact that the Company's current liquidity position leaves it without sufficient time or cash resources to pursue its right to be heard before the Director and, if necessary, to appeal any decision of the Director following such hearing to a panel of commissioners of the OSC, the Board of Directors has determined that the Company's best remaining alternative is to pursue a restructuring under the protection of CCAA.

"The Board of Directors strongly disagrees with any suggestion that it would not be in the public interest to issue a receipt for the prospectus for the Offering", said Cam Deacon, Chair of the Board of Directors of Azure. "In our view, any determination of what is in the public interest should weigh all relevant interests, including the interest of the Company in being able to access the capital markets and the interests of the Company's existing shareholders, employees, suppliers, customers and other stakeholders. Potential investors had the benefit of very detailed risk factor and other disclosure regarding the Company's liquidity and financial hardship, and the Company was prepared to include in the prospectus virtually all additional disclosure demanded by OSC Staff, except where it was not possible for the Company to include the demanded disclosure. In the circumstances, we are deeply troubled by the notion that investor protection would require allowing such unfortunate consequences to be visited upon a world industry leading company and its existing shareholders, employees, suppliers, customers and other stakeholders, particularly given our understanding that investors themselves, having had the benefit of such detailed disclosure, continued to have significant interest in the Offering. We wish to convey to the Company's stakeholders both our terrible sadness at this outcome and our commitment to pursuing the best outcome remaining available in the circumstances through CCAA proceedings."

About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDD) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.

The TSX does not accept responsibility for the adequacy or accuracy of this release.

# # #

Forward-looking Statements

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the expected provisions of an Initial Order under the CCAA. The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning approval by the Supreme Court of British Columbia of the Company's petition for an Initial Order under the CCAA. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Risks relating to Azure are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.


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    • 1 Second Ago
  • 43 Comments
      leong
      • 3 Years Ago
      if ford cherishes the technology, why not just buy the company... seems to be a good deal..
      • 3 Years Ago
      Yesterday we posted a blog regarding this announcement, titled "Azure joins Think in bankruptcy protection. Is the Electric Vehicle revival doomed? Insight from an insider." If you'd like to hear our take on the situation, you can read the article here: http://news.fleetcarma.com/2012/03/27/azure-joins-bright-in-bankruptcy-is-the-electric-vehicle-revival-doomed-insight-from-an-insider
        SVX pearlie
        • 3 Years Ago
        Now that GM and Nissan are fully spun up, along with Mitsu and Toyota underway, the window for any small EV/PHEV/EREV maker has closed completely. We see this with Tesla, Fisker, Think, Aptera, and now Azure. If the remaining current players (i.e. Tesla and Fisker) don't have a buyer within the year, they will be dead within 2.
          DaveMart
          • 3 Years Ago
          @SVX pearlie
          Tesla just maybe has a chance, but I am not betting on it. Fisker have a real sense of humour with their projection of 15,000 sales a year. That clearly indicates that they have their head in the clouds, to use a polite phraseology, and IMO have no chance of surviving. You have to have a realistic and achievable business plan to do that. Theirs is nonsense.
          Grendal
          • 3 Years Ago
          @SVX pearlie
          Timing was everything for Aptera's success. If they had shipped vehicles as promised in 2008 they may have had a chance. Tesla's looking pretty good. They have already e-mailed their first customers to pick their interior and exterior choices. I expect them to ship on time and the product should be close to what they have promoted. They still have a lot to learn and there will be problems that show up with an all new design but I expect them to pull it off.
          Spec
          • 3 Years Ago
          @SVX pearlie
          I think the Tesla has a decent shot. If they can actually start cranking out the model S and find buyers for them, they may do OK. The model S may do better than the Volt because it can be sold as 'premium brand' vehicle whereas people did not want to take the "Chevy" Volt as a premium car. Fisker is up in the exotic territory. But they've had problems and we don't know anything about the Nina. They have a real tough battle ahead of them to get sales of a $100K+ vehicle, fix the problems, raise money, get the Nina actually built, etc. I can see them going under.
          JakeY
          • 3 Years Ago
          @SVX pearlie
          I think Tesla and Fisker have a better chance than the others because they are targeting the higher end of the market. Think and Aptera (also Coda and Wheego) targeted the lower end of the market, and essentially overlapped with the large automakers. Bright and Aptera hit financial problems before they even had a chance on the market. I think the story is similar for Azure. Tesla is helping supply Toyota for their RAV4-EV, plus I think the Model S will be a hit (currently unmatched in many respects). Don't know about Fisker yet. I think their fortunes will ride heavily on Nina. I think the Karma will only have a limited short-term market (kind of like the Roadster).
          SVX pearlie
          • 3 Years Ago
          @SVX pearlie
          Fisker Nina is supposed to be $47.5k before $7.5k rebate, so they want to sell 15k $40k+ cars? That's basically E-klasse / 5er pricing. BMW moves roughly 60,000 5-series annually, so the market is there. But are there that many buyers who'll shift to Fisker?
      EZEE
      • 3 Years Ago
      Ford needs to follow up with more stable partners.
        Spec
        • 3 Years Ago
        @EZEE
        Well, they do have the FFE deal with Magna and they should be more stable. This Transit Connect was destined to fail since it costs too much money and better options are becoming available. I wish Ford would make a real commitment though. The FFE is a half-hearted conversion.
      Spec
      • 3 Years Ago
      I know people don't want to talk about this, but the EV revolution is hanging on by its fingernails. I hope it can work its way through this but it is ugly out there. Some bad news and some exceptions: Bad News: -Azure filing for protection as listed here -Think went bankrupt -Enerdel went bankrupt -Bright Automotive went bankrupt -Aptera went bankrupt -Fisker is struggling -The GM Volt is not selling as well as many would like -A123 is hitting record lows Exceptions: -Tesla's stock is doing great. Hype is carrying them. -Nissan seems to be committed -Opel Ampera got 7000 orders -Ford FFE, Chevy Spark, BMW EVs, and others are all on the way. It is extremely tough to get this market rolling.
        SVX pearlie
        • 3 Years Ago
        @Spec
        7000+ Chevy Volt in 2011, 10k+ total serial production really isn't bad. It's probably a full order of magnitude better than any other EV bar the Leaf.
          SVX pearlie
          • 3 Years Ago
          @SVX pearlie
          dang, got cut off there. Anyhow... The Leaf is the clear market leader for 2011, but their 10k is well down from the 20+k preorders they claimed back in 2010. So in theory, there are another 10k Leaf buyers out there waiting for delivery in 2012. The MIEV is coming on line, along with the FFE and Plug Prius. Notice the trend - it's all big boys with big boy money that counts by BILLIONS, not mere millions.
          SVX pearlie
          • 3 Years Ago
          @SVX pearlie
          Seems like Nissan marketing oversold to you, on the "(up to ) 100 miles" without enough YMMV caveats? Question: do you regularly drive 80+ miles, or were you looking at this as a more capable of running a full set of weekend errands?
          Grendal
          • 3 Years Ago
          @SVX pearlie
          SVX - I've commented numerous times here that when it comes to the companies selling this new technology to undersell and overdeliver. My commute is 36 miles, almost daily. Once a week I'll drive more, but under a hundred. Once a month I'll have to do 150+ miles. I've seriously thought about the Volt, since it can cover my commute with realistic EV miles. The Volt is a great car and it's only weakness, for me, is the lack of a full back seat. The Leaf would not cover my needs one day a week, which kills it from consideration. If the Leaf had 100 realistic miles it would cover all my needs except for one day a month - but it doesn't, so it's out. That's my story. So until something comes along that works for me I'll stick with my GM gas burner. 32 MPG and runs great every day. My next car will definitely be an EV or an EREV.
          Grendal
          • 3 Years Ago
          @SVX pearlie
          I am one of those 20,000. I put my $50 down payment in before any cars had shipped. Now it is clear they only get a 70-80 mile range with standard use. That will not work for my needs. I'm sure there are others out there like me that the reality of the Leaf doesn't match its expectations. I still think it's a great car but I need at least 100+ realistic miles from an EV.
      brotherkenny4
      • 3 Years Ago
      The Ontario Securities Commission denied Azure's request to raise further funding through an additional stock offering (see the Detroit NEWS). Perhaps Ontario has a different favorite son.
        Dave
        • 3 Years Ago
        @brotherkenny4
        This is too bad. If Azure Dynamics (electric drive systems - Ontario) had gotten together with Ballard Power Systems (fuel cells - British Columbia), Canada would have been able to build complete drivetrains.
          Spec
          • 3 Years Ago
          @Dave
          Ballard quite the mobile fuel cell market a while ago. (Or did they try to re-enter that market?)
          Dave
          • 3 Years Ago
          @Dave
          They are currently producing fuel cells for both forklifts and buses.
      • 3 Years Ago
      I know that nobody's ever heard of me or my invention,the Hank T E G,but I was planning to buy one of Azure Dynamics' small AC electric motors for my 1991 Chevy S-10.--- But now,because of their impending bankruptcy, I guess I can't.--- I am,nevertheless, still going to begin working with the University of Toledo Innovation Enterprise program so we can convert my little pickup truck to run totally on electric power,namely the Hank T E G...The truck will not run on batteries---It will only require the Hank T E G...To recharge it, you just pull into any gas station and put gas in the gas tank...There is no long recharging time...If my idea is successful I'm expecting extremely good fuel mileage.To give you some idea of what a Hank T E G can do, just imagine putting one in a Chevy Volt...The Volt would cost about $30,000 less(no expensive battery pack or gasoline motor & drive train needed),weigh at least 1000 lbs less(no heavy batteries), run on almost any fuel,and get about 300 mpg on gasoline. The Hank T E G could also run big rigs like 80000 lb. GVWR tractor trailer trucks. But such a truck would not get 300 mpg---It would only get about 25/30 mpg,depending upon load & terrain...
      Turbo Froggy
      • 3 Years Ago
      Well I knew Azure Dynamics was done the day after Nissan released pricing on the Leaf in the US. Mass production in getting prices down on the components of an EV is a very powerful thing. Azure Dynamics sells the AC24 system which is half the power of the powertrain in the Leaf for $16K, 24KWh of LiFEPO4 and your more than the Leaf after tax credits. And that doesn't even count the car, tons of more parts and wiring as well as labor to do the conversion. Then your still left with an old car that is half as fast as the Leaf. Done, D-O-N-E done.
        SVX pearlie
        • 3 Years Ago
        @Turbo Froggy
        Exactly right - GM and Nissan set the benchmarks for EV technology. If your EV doesn't meet or beat the Volt or Leaf, you're toast.
      Spec
      • 3 Years Ago
      Ford's Transit Connect could have been killed by a panel van version of the Nissan e-NV200. Reaching mass manufacturing scales matters.
      2 Wheeled Menace
      • 3 Years Ago
      Highly bogus :/
      DaveMart
      • 3 Years Ago
      Darn! No more Connect EV bargains at $57,000 or so!
        Letstakeawalk
        • 3 Years Ago
        @DaveMart
        There's still Smith, who is getting ready to introduce their fuel cell range-extended version of the Newton. "After road testing, Smith (in cooperation with Proton) will commercially launch the REX system in the 'Newton', and will sell the first 20 vehicles to customers in the German market in 2012/2013. Proton identified the 'Newton' truck as the most appropriate vehicle size in terms of volume business generation in the logistics markets. REX has been fully integrated into the Newton without reducing the payload or space. The benefits delivered by the system depend on the size of the integrated fuel cell system, the onboard storage capacity for hydrogen and the vehicle's drive cycle. Overall, trial results are positive and in line with Proton's expectations. Commenting on this technological and commercial achievement, Faiz Francois Nahab Ph.D., CEO of Proton Power, said: "We are delighted with the success of the project to commercialize the power range extender, and we believe it will increase the addressable market and open new markets for electric powered light duty vehicles. The improved range of operation opens up exciting new possibilities as we can address a wider market segment. We are now ready to present the new vehicle to customers and they can test drive it. I wish to thank the whole team at Proton and Smith for their efforts in achieving this exciting milestone." http://www.investegate.co.uk/article.aspx?id=201203260700190129A
          marcopolo
          • 3 Years Ago
          @Letstakeawalk
          @ LTW Very interesting, thank you for your post.
          DaveMart
          • 3 Years Ago
          @Letstakeawalk
          Hi Marco. I don't do affection when it comes to car manufacturers. I remember the 60's and 70's too clearly, with British Leyland gobbling up huge quantities of taxpayer's money, whilst the basic problem that their cars were completely hopeless was attempted to be disguised by all sorts of patriotic flag waving. A car company as far as I am concerned can either produce competitive models or cease to exist, as that is what they are there for. A happy conjunction of factors have given France and Japan the advantage in pure electric vehicles, including in the French case cheap electricity from nuclear power and good coordination between state and private enterprise. I respect Ford's engineering particularly in chassis development, but they are part of Red Nose week when they try to claim leadership in pure electric vehicles. Ghosn and Nissan don't need to bull, and clearly said that they are followers in hybrids. If you start bulling and making mendacious claims it affects your whole organisation, and disrespects the customer. However I feel that US companies have a much better shot at plug in hybrids, and await Ford's pricing with interest if with some trepidation.
          DaveMart
          • 3 Years Ago
          @Letstakeawalk
          I thought the Newton was a bigger vehicle. We don't really have an issue in Europe anyway, as the Renault Kangoo Ze is now available at way less than half the price of the Ford Connect EV, in various versions, and with battery hire plus electricity working out to far less than diesel: 'You can save 20% of the price of a Kangoo Van Z.E. thanks to a government grant. That means that the the Kangoo Van Z.E. now starts from £13,592 excluding VAT rather than the normal basic price excluding VAT of £16,990. The grant is available to everyone.' http://www.renault.co.uk/vans/model/kangoo-van-ze/pricesandspecs.aspx It is in the US that you are stuffed for small electric vans. No one but a madman or a Government department would buy a Connect EV anyway with the Renault available.
          marcopolo
          • 3 Years Ago
          @Letstakeawalk
          @Dave Mart My offer was intended kindly ! I only meant that since you have such affection for Renault, and I see Renault are currently advertising for senior UK administration staff, you would be an ideal candidate ! Although I am suspicious of the Renault battery leasing scheme, the little Kangoo is an absolute winner in the little commercial stakes. In fact it would be fair to say that it's the easily the best in it's class, except for possibly the ROC built Yulon EV, which is unobtainable in Europe or US. I have always considered the Ford Connect EV a worthwhile experimental vehicle, but the price renders it commercially unjustifiable. Incidentally, I am still a loyal subject of Her Majesty as citizen of the UK , but I am also an Australian citizen. (Both nations enjoy the same head of state) . The Australian auto industry has been traditionally American, with late additions from Japan. I'm afraid that the joy's of British motoring in the late 60's and seventies, could not compare to the thrilling, and affordable, vehicles Australia was producing! (nor could the price of petrol).
          DaveMart
          • 3 Years Ago
          @Letstakeawalk
          Marco: I call it as I see it. If Ford ever produce a worthwhile electric vehicle, I will say so, and certainly I have no prior position on their plug in hybrids. As for a predilection for Renault, that is for the very obvious reason that they, together with Nissan and Renault are leading in BEV vehicles. If they start stuffing up I will say that too. I simply do not have your apparent American patriotic attachment to US car companies, which in any case is rather peculiar as you are currently an Australian and were a Brit. I am at a loss as to why you should feel obliged to leap to their defence on every occasion without any apparent regard to the merits of the subject at hand, or how inadequate their designs and how overblown their rhetoric. You are welcome to snap up the last few Ford Connect vans in preference to the Renault Kangoo ZE.
          marcopolo
          • 3 Years Ago
          @Letstakeawalk
          @Dave Mart Dave, mate you'll do yourself an injury dancing in their grave like that.:) I have never met Carlos Ghosn, but I am attending a function later this year where he will be one of the guests of honour. Perhaps I could put in a good word for you, if you would like to work for Renault officially? (or just get an autographed photo ?) :)
          Letstakeawalk
          • 3 Years Ago
          @Letstakeawalk
          Thanks, I meant it to be a generally positive comment, even thought the Ford Transit Connect is indeed a much smaller truck. Smith is still going strong, and moving forward. It is a shame to see these other companies (Bright and Azure) struggle.
          marcopolo
          • 3 Years Ago
          @Letstakeawalk
          @ DaveMart Ah, the heady day's of Harold Wilson and British Leyland ! Did you know that British Leyland has the distinction of being the only car maker in the world to have never completed a week without some form of industrial action taking place somewhere in BL? I have just rescued an excellent, fairly rust free, 1971 Rover P5b Coupe, from the scrap heap, and am deciding on which restorer to engage to complete the restoration of one of BL's few success stories. I put the Rover on a trailer, hooked up to the LEVRR, proceeded from just outside Barnsley, to Richmond on Thames. ( easily on one charge). Something rather symbolic in the sight of the latest technology, towing yesterday's technology, to be restored ! Something very British ! My neighbour across the street, (Chartered accountant) admired the LEVRR, and was astonished that EV's had advanced past the G-Whiz . Recommended replace his wifes hatchback with a new Renault Zoe, and since he travels he travels twice a month to places like Grimsby and Workington, a Vauxhall Ampera should suit him perfectly! I left him excitedly working out the tax benefits. ( Strange breed, Accountants :) GM's Volt/Ampera, really need an station waggon (estate) version. I'm sure it would sell very well.
          DaveMart
          • 3 Years Ago
          @Letstakeawalk
          Hi LTAW, I am even more senile than usual the last couple of days, and managed to read past the info that this is a fuel cell range extender! Exciting news indeed!
        SVX pearlie
        • 3 Years Ago
        @DaveMart
        "Darn! No more Connect EV bargains at $57,000 or so!" So if it's 50% larger than a Focus EV, the price reflects it.
          DaveMart
          • 3 Years Ago
          @SVX pearlie
          50% larger? What in the world are you talking about? The battery pack and the motor aren't, and the size of the van body is irrelevant.
          SVX pearlie
          • 3 Years Ago
          @SVX pearlie
          Yes, I'm talking about pricing per cubic foot - that's the only advantage of the CEV over FFE.
      EVSUPERHERO
      • 3 Years Ago
      Well, last month I paid Azure Dynamics 500 dollars to re-flash new software in my controllers for $250 each. Good thing I just got that done. Except for the stock fraud, Li-ion Motors would be gone, they two are a Canadian Corp. If you can take 50 mill out of the corp over ten years you can stay in business even if your 6 mill in debt. I don't blame the owner for not wanting to pay people to build EV's with the money he got from that stock fraud. The owner Ratan, got that money fair and square and I am sure he would not want to take those chances just to pay employees. Ratan obviously structured his corp after Zaps model of stock fraud. Zap, a nother next to worthless EV corp that hangs on through wierd financial transations.
        DaveMart
        • 3 Years Ago
        @EVSUPERHERO
        @Spec: Nah, it's just the froth being blown off of the coffee cup. The only one of that surprises me is how well Tesla have done, I thought they had almost no chance of getting the Roadster going properly and decent sales. All the rest of the problem children are small companies with the exception of GM, often with completely daft business plans like Aptera. As for Azure, who could possibly have known that a $57,000 electric van would not sell well enough to keep the company going? :-) The GM Volt is the only stand out, even A123 is dwarfed by the South Korean and Japanese opposition. My doubts about the Volt have been about how much it is actually costing them to make rather than the quality of the car, but anecdotally demand is high, certainly in Europe. The big boys who really make the EV market are doing fine though. Too much focus on the US obscures that. Mitsubishi have just opened their new 50,000 pa battery pack capacity factory, and tell us demand is high and costs are dropping fast. They have sold around 18,000 to date, which puts the GM figures into perspective, and are bringing out different body styles, cabs etc as well as plug in hybrids. Nissan's new battery factory in the UK is just starting production, but a lot of the group's battery production is likely diverted to Renault, where they are introducing the complete range by the fall. Nissan tell us that they don't think they will have a problem hitting 2,000 a month later in the year in the US. Toyota is now kicking in with a plug in hybrid. So as is usual in a new market, the bit part players are being shaken out. The main players are doing OK or very well.
      Nick
      • 3 Years Ago
      So in the end it turns out there was nearly no chance for EV start-ups. Only those supported by deep-pocketed billionnaires or billion dollar corporations had a chance. Sad to see the start-ups disappear, now I cross my fingers for Tesla and Fisker.
        marcopolo
        • 3 Years Ago
        @Nick
        @ Nick, Very true! Auto-manufacture is a very capital intensive, high risk, low profit business. Companies manufacturing specialist components like Azure, must be aware that they can't rely on only a few clients. It would be different if Ford held a substantial shareholding, or was involved in a major JVC. As it is, the market for a specialist low volume EV drive train, sold as conversions for ICE models, was always doomed to be a short term business as EV's evolved. In the past, famous specialist coach-builders found the same problem when auto-manufacturers moved away from independent chassis. Component manufacture relies on being able to make parts cheaper and better than competitors, or than the OEM can produce in-house. Ford can't sell the connect because the price is too high, Azure can't get enough orders to stay in business, it's just that simple ! No one, except the employees and investors in Azure ,will mourn Azure's departure
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