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

To: Michael Stavy who wrote (2919)	1/6/1999 3:20:00 PM
From: fred whitridge	Read Replies (2) \| Respond to of 8393

Looks like Ford is really catching the EV bug. No doubt due to their new eponymous "Green" Chairman. The PIVCO got fairly good reviews during its debut as a "station car" in Oakland/Alameda California, where a large number of them operated for a year. Those cars were powered by NiCad from SAFT I believe. In any event it ups the pressure another notch on GM to get production up at GM/Ovonic..... --------------------------------- Wednesday January 6, 10:31 am Eastern Time Company Press Release SOURCE: Ford Motor Company TH!NK Electric: Ford Invests in Norwegian Company and Its Acclaimed City Car DETROIT, Jan. 6 /PRNewswire/ -- Ford Motor Company (NYSE: F - news) is taking a major step to jump start the development of affordable small electric vehicles. Ford has entered into an agreement to obtain majority interest in Norwegian-based Pivco Industries, the manufacturer of the two-passenger TH!NK electric city car. TH!NK debuted at the European Electric Vehicle Show in Brussels, Belgium, last October, to widespread acclaim from the automotive and environmental press. TH!NK is a light-weight, plastic-bodied zero emission vehicle designed for customers who want an environmentally friendly small car for commuting to and around the city. ''The quiet, emission-free TH!NK can meet the needs of urban customers looking for distinctive, earth-friendly transportation,'' said Jac Nasser, Ford president and chief executive officer. ''This car not only will give us immediate access to a whole new market niche, it will provide a wealth of new ideas for us to develop. We are particularly interested in new concepts in the use of plastic body components, as well as low-volume and flexible manufacturing.'' Ford will assist Pivco in the introduction of TH!NK in four Nordic countries (Finland, Denmark, Norway and Sweden) before the end of 1999. The company has plans for a further developed TH!NK to be sold in North America in the future. Its potential in other markets will be explored as well. Pivco has been seeking a global automotive alliance to provide needed capital and a global marketing network. ''Ford's interest in our company is a strong recognition of the Norwegian electric vehicle project,'' said Jan Otto Ringdal, chairman of Pivco Industries Ltd. ''This partnership will make possible a global expansion of a new, clean and purpose-built vehicle for personal mobility in urban areas.'' Ford will continue to sell the Ranger EV, an electric-powered compact pickup intended primarily for fleet use. ''The obstacles to profitably selling an electric vehicle will only be overcome with a combination of out-of-the-box thinking and solid business fundamentals,'' said Nasser. ''Pivco's unique approach in developing an innovative plastic-bodied electric city car adds another dimension to Ford's electric vehicle program.'' SOURCE: Ford Motor Company