Balwinder Samra, President and CEO of Balqon Corporation, stated, "Industrias IVOR has over 100 years of experience in the heavy-duty truck market in Colombia. Our agreement with Industrias IVOR provides us with a long term partner that we believe will facilitate the development of a market for our heavy-duty electric vehicles in Colombia.
The addition of Industrias IVOR to our dealer network evidences progress towards our goal of developing an infrastructure that will provide our customers with the ability to service our products globally." "Industrias IVOR’s presence in ports and inner city delivery vehicle markets provides both Industrias IVOR and Balqon opportunities to jointly develop the market for electric vehicles in Colombia," added Mr. Samra.
"We are excited to partner with Balqon Corporation and, together, to introduce new products and new zero emissions technologies to our existing customer base at ports, distribution warehouses and inner city distribution companies," commented Gareth Hughes, President of Industrias IVOR.
Industrias IVOR is a distributor of trucks, firefighting trucks and equipment, refuse trucks, and heavy machinery for material handling products in Colombia. Its customers include local ports, distribution warehouses, airports, beverage industry, and state and local governments. Industrias IVOR was founded in 1887, has sales and services locations in the major markets in Colombia, and has over 100 years of experience in the Colombian market.
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 built on Autocar LLC chassis is designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities. For information about Balqon Corporation and its product offerings, visit www.balqon.com. Balqon Corporation’s common stock trades on the OTC Bulletin Board under the symbol "BLQN".
Autocar, LLC, headquartered in Hagerstown, Indiana, is an engineering, assembly, sales, and service company, with a focus on severe service heavy duty trucks. Autocar(R) engineers and assembles highly customized vehicles for applications including waste collection and hauling, yard tractor spotting, drayage hauling, mobile cranes, construction, and aircraft services.