Poll: Next big "green" powertrain
What will be the next big "green" powertrain in the U.S.?
Tanfield Receive Bid for Smiths Electric Vehicles
Tanfield Group has received a non-binding, conditional offer from Smith Electric Vehicles US (Smith US) to acquire the assets of Smith Electric Vehicle division for 37 million pounds ($55.37 million) in cash.This includes the Smith Electric Vehicles UK business, as well as the 49% Tanfield owns in Smiths US, and licensing and intellectual property rights.
The board of Tanfield has granted Smith US a four month period of exclusivity.
Tanfield said it would also be entitled to an additional 33.3 million pounds contingent credit in any initial public offering of Smith Electric before September 2015.
In the UK Smith Electric Vehicles already supply such prestigious customers as Sainsbury’s, TNT, DHL, TK Maxx and Scottish & Southern Energy, fulfilling these organizations urban transport requirements and proclaiming their green credentials.
Smith US, headquartered in Kansas City, Missouri, is a privately held company owned by private investors, senior management and Tanfield. Tanfield is the parent company of the Smith U.K. Division, a leading manufacturer of zero-emissions battery-electric commercial vehicles in Europe since the 1920s.
Subscribe to the RSS feed or Follow Us on Twitter for more information on green cars, green car news & green car technologies.
Recharge your electric car wherever you want. Certified by all brands!
- Geneva 2008: New Diesel Engines for Ford Mondeo, Ford S-MAX and Ford Galaxy
- MIT Scientists Find New Way to Generate Electricity
- Coskata Opens Semi-Commercial Feedstock Flexible Ethanol Facility
- High Performance, 92 Mpg High Mileage 3 Wheel Sport Car
- SolarCity, Rabobank to Build Fast-Charge Electric Car Charging Corridor