Echo Automotive is adding General Motors vans to its offerings of converted plug-in hybrid vehicles and will bring its EchoDrive PHEV system to GM 2500 and 3500 vans. That will include model year 2010-2014 Chevrolet Express and GMC Savana, but don't go trying to get these vehicles converted quite yet.
Echo Automotive says production won't begin until the first quarter of 2015, since things are still in the development stage and the company is awaiting a patent on its EchoDrive technology. The company calls it, "a revolutionary patent-pending cost-reduction solution for converting fleet vehicles into highly fuel-efficient hybrids and plug-in hybrids." The GM vans will follow the company's conversion of EchoDrive units onto Ford E-Series van platforms. The E-Series conversions are scheduled to begin later this year (orders currently being accepted).
Echo Automotive thinks adding the Chevrolet Express to its lineup will make for a smart investment, given that it's second only to the Ford E-Series vans for commercial fleet registrations in North America. It also follows right behind the E-Series and Dodge Caravan in government fleet registrations.
It's a three-pronged victory for fleets using the EchoDrive technology, according to the company's chief executive. "We look forward to demonstrating the impact EchoDrive delivers to fleet managers in reducing operating costs, delivering greater fuel efficiency and promoting sustainability across both the Ford and GM platforms," said Dan Kennedy, CEO of Echo Automotive, in the press release, which you can read below.
Feb 18, 2014
Company Broadens Market Footprint and Opens Plug-In Hybrid Option for More Fleets
Scottsdale, AZ--(MARKETWIRE-February 18, 2014) – Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive", "Echo" or the "Company") a developer of technologies enabling the cost-effective aftermarket addition of fuel-efficient plug-in hybrid capability to new or existing vehicles, today announced plans to extend its industry award-winning EchoDrive plug-in hybrid system to GM 2500 and 3500 vans, including the Chevrolet Express and GMC Savana, model years 2010-2014. Production is expected to commence in the first quarter of 2015.
The Chevrolet Express is second only to Ford E-Series vans in North American commercial fleet registrations, and trails only the E-Series and Dodge Caravan in government fleet registrations, according to the most recent statistics published by Business Fleet. EchoDrive currently is available for Ford E-Series vans.
"The addition of support for the Chevrolet Express platform is a natural expansion for EchoDrive from both a technical and a market perspective, and one that allows more fleets to benefit more fully from our EchoDrive plug-in hybrid system," said Dan Kennedy, CEO of Echo Automotive. "We look forward to demonstrating the impact EchoDrive delivers to fleet managers in reducing operating costs, delivering greater fuel efficiency and promoting sustainability across both the Ford and GM platforms."
EchoDrive delivers a non-invasive plug-in hybrid solution for new or existing vehicles without high infrastructure costs. It offers fleet managers a low-cost point of entry to high fuel efficiency as well as a long product lifespan and financing options that make shorter return-on-investment possible. A nationwide network of industry-leading install and service providers supports the EchoDrive system. Orders are currently being accepted and production of EchoDrive units for the E-Series platform is scheduled to begin later this year. Production for the GM series is expected in early 2015.
About Echo Automotive, Inc. (OTCQB: ECAU)
Echo Automotive™ is a technology company that specializes in delivering cost-effective electrification products and solutions that are purpose-built to maximize fleet transportation efficiency and provide optimal return on investment. The key to Echo's strategy is the bolt-on nature of its solutions, which reduce operating costs and increase efficiency without affecting original vehicle operations. Additionally, Echo offers technology licensing, and consulting in design, energy storage, propulsion, conversions, and vehicle engineering. For more information, please visit www.echoautomotive.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, commercial rollout of the EchoDrive™ system in 2014, target market, development of technologies and products, and business strategy. These forward-looking statements are made as of the date of this news release and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.