Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (10296)	4/18/2010 10:50:57 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24213

Electric vehicle converter has connections to go far BY BRENT SNAVELY FREE PRESS BUSINESS WRITER Almost overnight, three partners who co-founded Alte, a fleet vehicle electric conversion company, have gone from a small shop in Plymouth, where they were tinkering with battery cells, to an 185,000-square-foot headquarters and manufacturing site. While Alte is one of many companies jumping into the electric vehicle industry, it has quickly attracted the support and backing of well-connected automotive industry veterans and politicians. "Fifteen months ago, we were just three people and a PowerPoint presentation," CEO John Thomas said at the grand-opening celebration of the Auburn Hills building last Monday. "And now we've got this." Alte aims to turn existing commercial fleet vehicles already on the road into plug-in hybrid-electric vehicles. Thomas said Alte is targeting used commercial vehicles that are two to four years old and whose mileage has exceeded the warranty. "That way, when we offer our 50,000-mile, five-year warranty, it's on our powertrain alone, and we don't have to worry about the rest of the vehicle," Thomas said. There are about 10.2 million light and heavy-duty registered fleet vehicles in the U.S., he said. "If we can convert just 500,000 vehicles over a five- or six-year period, we achieve all of our financial goals," Thomas said. Alte's plug-in hybrid electric powertrain is expected to power a vehicle for about 40 miles on a single charge before a gasoline engine kicks in to recharge the battery. Vehicles should be able to travel about 400 miles without refueling. Depending on the vehicle, Thomas estimates, Alte's system can improve fuel efficiency by 80% to 200%. Thomas said Alte already has a $240-million purchase order for about 3,000 powertrain kits with a company called Gulfstream Coach for airport shuttle buses. Oakland County Executive L. Brooks Patterson said Alte fits into an economic development strategy the county crafted in 2003. "The advance and the birth of Alte right here is clearly what we had in mind," Patterson said. "It's not going to make Oakland County recession-proof. But a company like this will make Oakland County recession-resistant." freep.com