Under the terms of the Dealer Agreement, Balqon Corporation has assigned Autoelevadores Yale as an authorized Balqon Dealer for heavy duty electric vehicles and parts and service in Argentina.
Balwinder Samra, President and CEO of Balqon Corporation, stated, “The addition of Autoelevadores Yale to our existing team of dealers is a continuation of our goal to develop a presence in every region of the world for our heavy duty electric vehicles. Successful completion of reliability and performance testing of our lithium-ion battery powered Nautilus XE20 product line and the recent expansion of our international sales team puts us on the path to global commercialization of our product line during 2010. In addition, we believe that our presence in South America, will allow us to jointly explore other opportunities for our proprietary heavy-duty electric traction drive systems and our lithium-ion battery management systems within transportation markets through joint ventures with regional original equipment manufacturers throughout South America,” added Mr. Samra.
"We are very excited to be partnering with Balqon Corporation and rolling out their products to our existing client base comprised of local ports, distribution warehouses and inner city distribution companies. The relationship will also help us by giving us a strategy to build new clients complementing our existing electric vehicle product lines. Low emissions and energy efficiency vehicles have a huge demand in the material handling space, and we are always looking to expand our portfolio of value-added products and services to our valued customers," commented Gustavo Buzzalino, President of Autoelevadores Yale.
Autoelevadores Yale, a division of Yale, is a leading provider of a full line of high-quality, high-performance Lift Trucks (Forklifts), including electric, gas, LP-gas and diesel powered lift trucks; narrow aisle, very narrow aisle and motorized hand trucks. Yale offers comprehensive Fleet Management services, as well as Yale service, parts, financing and training. Autoelevadores Yale has over 18 sales and service locations in Argentina and has represented leading American manufacturers for the past 30 years in forklift, reach stacker, straddle carrier and other material handling related products. Their customers include local ports, distribution warehouses, airports, beverage industry and state and local governments.
Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems. The Company uses its proprietary flux vector control technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment.
Balqon Corporation’s current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities. Balqon Corporation’s common stock trades on the OTC Bulletin Board under the symbol “BLQN.”