- Oct 18, 2012
Amp stops conversion SUV plans, shifts focus to electric delivery trucks
Speaking of money, Amp got a $7.5 million commitment from Kodiak Capital Group last month. That's much better than the $107,000 worth of sales it had in the quarter ending June 30 while racking up expenses of $2.5 million. Today, Burns told AutoblogGreen:
The Icelandic and Caribbean deals were to put thousands of electric SUVs into those islands. We'll see how the projects move forward from here.
We essentially have just put passenger vehicles on hold until we see a bit more demand. However, as one caller asked during the Q&A, we are still hoping to send EVs to Iceland and Caribbean, but probably as conversions. The bar to be a new vehicle OEM is pretty high and we are having a hard time justifying the capital required until demand picks up.
Conversely, the Navistar deal produced such a great E-Truck that we have seen tremendous interest and are therefore pursuing that avenue for now. Our heart is still very much tied to EV passenger vehicles, but for now, the business side of the brain will have to win over the heart.