Navistar Takes Stake in Modec

03 December, 2009 08:39:00

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Navistar said on Wednesday that one of its wholly owned affiliates has signed a joint venture agreement with Modec Limited of the United Kingdom to create the Navistar-Modec EV Alliance, LLC.

The joint venture will produce Class 2c-3 all-electric commercial trucks for sale in North, Central and South America.

The trucks are designed and purpose-built to be electrically driven. Intended for urban applications involving heavy stop-and-go driving, they are aerodynamically styled with a two-ton plus carrying capacity, rely solely on plug-in power, and are projected to have a range of up to 100 miles per charge. They produce zero tailpipe emissions and are the latest in a series of advanced, clean technology vehicles that have become part of Navistar’s portfolio.

In August, President Obama announced that Navistar would receive a federal grant of $39.2 million in government stimulus funding from the Department of Energy to develop and build all-electric trucks.

These trucks will be produced in Elkhart County, Ind. Navistar intends to produce 400 electric vehicles in 2010, and expects to be producing several thousand annually within two years. As volumes grow, Navistar anticipates the creation of up to 700 new jobs, including suppliers and employees.

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