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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hoff who wrote (3928)	8/12/1999 7:44:00 PM
From: Don Devlin	Read Replies (1) \| Respond to of 8393

Bloomberg technology Thu, 12 Aug 1999, 7:14pm EDT Unique Mobility's New CEO Focuses on Auto Parts, Electric Van Unique Mobility's New CEO Focuses on Auto Parts, Electric Van Golden, Colorado, Aug. 12 (Bloomberg) -- Unique Mobility Inc. in the last year grew from a research-and-development company into a volume supplier of automotive parts, its new chief executive, William Rankin, said. The supplier role is surprising to some investors, who still see Unique Mobility as an electric-car R&D company associated with former Chrysler Corp. Chairman Lee Iacocca. Unique Mobility is a partner with Iacocca's EV Global Motors Co. and Energy Conversion Devices Inc., headed by former General Motors Corp. Chairman Bob Stempel, in developing an electric van for use in Europe. ''We're a component developer of advanced motors and control systems for the joint venture,'' not the builder of the vehicle itself, said Rankin, who took over CEO duties from Chairman Ray Geddes this week. Rankin, 55, is also chief operating officer. The joint venture early next year hopes to have a prototype of the electric van, being designed for parcel delivery and use as a six-passenger shuttle, Rankin said. Unique Mobility's acquisitions of an electronics-components company and a precision-gear maker increased sales to $15.8 million for its fiscal year ended March 31 from $4.1 million a year earlier. Iacocca didn't seek re-election to Golden, Colorado-based Unique Mobility's board at yesterday's shareholders meeting because of time demands from his own company, Rankin said.