Hybrid Technologies changes it name to EV Innovations Inc
While perusing YouTube the other day, we happened across some re-posted videos from the Hybrid Technologies collection. Nothing out of the ordinary, but then we read a video description that said ,"EV Innovations, formerly Hybrid Technologies, shows off one of thier [sic] electric vehicles." Huh? EV who? We contacted their PR firm who told us, "We will be issuing a press release shortly and will put you on the distribution lists." And then, nothing. Luckily Google didn't similarly let us down and alerted us to the aforementioned press release a day later. So, what's the big news?Hybrid Technologies, whose considerable range of models doesn't actually include any hybrids, have changed their name to the more apt EV Innovations and their stock symbol to EVII. The reason given for the change is that the company is morphing from "a development stage technology company, to a world class manufacturer of Plug In, Battery powered vehicles." Left out of the understated announcement, but mentioned in a couple of their YouTube pages, was news that they are also planning on bringing some new electric vehicles to the New York Auto Show in April. Perhaps we'll get to see a copy of their 150 mph "Super Car" they sold last year via Sam's Club and we're supposed to bring to the past LA Auto Show. We're also interested to see if the change helps sales any. Brief press brief after the break.
Update: Although EV Innovations didn't say they were bringing it to New York, the company does mention their "Inizio(TM) EVS-7 Super Car" in their press release.
[Source: YouTube / EV Innovations]
PRESS RELEASE:
Hybrid Technologies, Inc. (OTCBB: HYBR) Announces Change of Name and Trading Symbol to EV Innovations Inc. (OTCBB: EVII)
Hybrid Technologies, Inc. (OTCBB: HYBR) formally announces that it has changed its name to EV Innovations Inc. and will begin immediate trading under the ticker symbol EVII (EE VEE EYE EYE). This move comes as EV Innovations ends the transition from a development stage technology company, to a world class manufacturer of Plug In, Battery powered vehicles. According to Company President, Holly Roseberry: "As we go forward under our new identity and new ticker symbol, EVII, we fulfill our commitment to be the leader in American made Plug In Electric Vehicles."
EV Innovations Inc. (OTCBB: EVII) is the leader in manufacturing Plug In Battery powered vehicles, in the United States. Current production includes the world famous Inizio(TM) EVS-7 Super Car.
About EV Innovations: www.evinnovations.com
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.
Reader Comments (Page 1 of 1)
Tim 4:47PM (2/22/2009)
I drove their Mini at the Alt Car Expo in 2008. The car and quality was impressive, it had a flat deck where the rear seats were, much better designed than the BMW version with a large box in the rear area that limits the storage capacity. I like what they are trying to do.
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Domenick Yoney 11:42PM (2/22/2009)
Thanks for that, Tim. We know of one of their customers very pleased with his Yaris / Liv.
http://www.autobloggreen.com/2009/01/29/hybrid-technologies-delivers-liv-wise-corvette-guy-loves-it/
Chris 10:48AM (2/23/2009)
And there is an NYC cab operator that was not as happy with their product.
http://www.autobloggreen.com/2007/07/16/electric-pt-cruiser-couldnt-cut-it-as-ny-taxi/
I wonder if a not so positive performance on a big stage like NYC has anything to do with the name change?
Chris M 2:00AM (2/23/2009)
I'm guessing that when they first incorporated under the name "Hybrid Technologies" they were planning to introduce hybrids and maybe plug-in hybrids, but found that market already occupied. So after finding success with EVs, they've finally realized it was time to change their name.
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Tim 11:17AM (2/23/2009)
Chris, I don't think many conversions would stand up to the rigors of NYC Taxi life and it was probably a bad decision to try it in NYC just because of the abusive road conditions, but I still commend them for at least sticking their neck out and trying. You don't get anywhere by sitting idle and complaining, you go out and try and ADJUST.
Ray 3:45PM (3/21/2009)
I don't know much but I do own a "Liv Wise" and a Yellow Corvette. The name change is much more representative of what they do. The first paragraph of every mention of this company on the net or in other news is a clarification of weather they produce Hybrids or not. When they told me of the change I said, "finally". Hybridtechnology is misleading (in a good way) from the start. In all my research of the company I never once read information that they planned to make a Hybrid. It was all electric from the start. If I remember correctly they had an explanation on there website. It was something along the lines of being a hybrid because it still burns coal, nuclear, natural gas, hydro, wind and sun as a fuel. In China I still think they burn oil to produce electricity.
Frankly I think my car would make a great cab. The cab driver should have an interest in EV's. If not I think they would complain because it is not exactly like a ICE vehicle. It is not a gas powered vehicle why should it be like one.
All the time people ask me. "You have to plug it in? In answer I say, "No I get to plug it in. What I don't have to do is go to the gas station"..
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