Balqon Receives Order From New China-Based Distributor, DynaProTech

Balqon Corporation (OTCBB: BLQN), a developer and manufacturer of zero emissions, heavy-duty electric vehicles and drive systems with lithium ion batteries, has received a $490,000 order for electric drive systems under a new dealer agreement with DynaProTech, a leading composite automotive parts manufacturer in the People’s Republic of China.

Under the terms of the dealer agreement, DynaProTech plans to integrate Balqon’s zero-emissions electric drive systems into electric buses, heavy-duty trucks, light commercial vehicles and automobiles for use throughout China. DynaProTech will also provide servicing and parts for Balqon’s products throughout China.

"Our relationship with DynaProTech is a continuation of our localization strategy to have our drive systems integrated into products manufactured by regional original equipment manufacturers (OEMs) in major world markets," said Balwinder Samra, president and CEO of Balqon Corporation.

"We believe that DynaProTech’s existing customer base in the automotive sector will expedite our ability to promote our technologies to a growing base of OEMs seeking zero-emissions technologies," said Samra.

"In addition, we believe that our relationship with DynaProTech will also allow us to showcase our flux vector motor controllers and lithium ion batteries management systems to manufacturers of electric buses, trucks and automobiles in China."

The relationship with DynaProTech comes at a time where China is expected to increase spending in the alternative-energy vehicle industry. On August 4, 2010, the Shanghai Securities News reported (without citation) that China may invest more than 100 billion Yuan (approximately US$14.8 billion) in the alternative-energy vehicles industry during the next 10 years.

DynaProTech represents the sixth international dealer agreement Balqon has established since the beginning of 2010. This includes Argentina-based Autoelevadores Yale, Colombia-based Industrias IVOR, Electric Cars of Costa Rica, Mol Transportation Solutions in Europe and, most recently, Km. Verde in Spain.

DynaProTech is a high-tech, CNC machine tool design, research and development-oriented enterprise located in the Jiangsu Province, People’s Republic of China. The company principally engages in five-axis CNC machine tools, servo axis CNC system devices, precision CNC machining and other high-end, high-speed hard cutting CNC machine tools. The company has also made breakthrough developments with a number of foreign businesses in the areas of electric vehicles, large wind power blades and boats.

Headquartered in Harbor City, California, Balqon Corporation (OTCBB: BLQN) 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 product line of tow tractors built on Autocar LLC chassis are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities.