Phoenix books 75 orders for their SUT

Phoenix Motorcars has their first firm orders for their upcoming electric pickup truck. They have received seventy-five firm orders from municipalities and one utility. Phoenix is the first automotive company to commit to using the Altairnano NanoSafe lithium ion battery. According to the Phoenix press release, they also have a three-year US exclusivity agreement and they got gave a 16.6 percent equity stake in to Altairnano.

The agreement has certain restrictions which could make it difficult for GM to consider these batteries for the Volt. Phoenix has to meet sales levels to keep the exclusivity. The release also says it's exclusive for all-electric vehicles, but since the Volt has an engine, it may depend on the exact wording of the agreement. Phoenix has 16 trucks in progress right now, and wants to have federal safety testing done with these vehicles done in time to sell 500 trucks before the end of the year. Click on the Read link for the Phoenix press release.

[Source: Phoenix Motorcars via AutoBlog]

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