Balqon anticipates that it will begin production of the 300 electric vehicles in mid-2011 at its headquarters in Harbor City, California and plans to begin hiring new employees within the next month. A majority of the 150 jobs expected to be created will be direct labor for the fabrication and assembly of the electric drive systems and the remaining jobs will be in the engineering and research and development fields.
"This order from Winston Global Energy validates the competitiveness of our technology in the global marketplace and will result in the creation of high tech green jobs domestically," said Mr. Balwinder Samra, President and CEO of Balqon. "We are pleased with results of our emphasis on promoting our electric drive technologies to OEM’s in global markets during the past year."
Balqon’s electric drive system incorporates a high efficiency electric motor and automatic transmission with Balqon’s proprietary inverter technology, a lithium-ion battery management system, a vehicle diagnostic system and related software. Balqon’s electric drive system provides its customers with a single integrated system for medium and heavy duty commercial vehicles. In 2008, Balqon was the first company to provide a zero emissions electric tractor with a 30 ton capacity to Port of Los Angeles. In 2010, Balqon continued its pioneering vision when it jointly developed the world’s first electric Class A motor home with Riverside, CA based MVP RV, a company owned by Winston Global Energy.
"Demonstration of Balqon’s technology integrated into a 25 ton Class A motor home in China convinced us that Balqon’s zero-emissions electric vehicle technology can be applied to other vehicle platforms such as passenger buses in China," said Mr. Winston Chung, President and CEO of Winston Global Energy. "We believe that combining our lithium battery and fast charging technology with Balqon’s proprietary electric drive systems will enable us to provide cost competitive zero-emissions solution to a growing global demand for electric vehicles."
In December 2010, Balqon completed a $5.0 million private placement and entered into an exclusive Distribution Agreement with Seven One Limited, an affiliate of Winston Global Energy headed by leading battery technology scientist, inventor and entrepreneur, Mr. Winston Chung.
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.
Headquartered in Hong Kong, China, Winston Global Energy Limited is engaged in the business of developing advanced battery storage solutions, electric vehicles and development of charging stations. The Company has investments in US firms engaged in business of manufacturing and marketing of electric trucks, buses, recreational vehicles and luxury vehicles.
The Company is 100 percent owned by inventor, scientist and developer of lithium iron phosphate batteries, Mr. Winston Chung who is also the majority shareholder of Shenzhen China based Winston Battery (formerly Thunder Sky Batteries) which produces batteries for electric bikes, electric motorcycles, electric automobiles and hybrid vehicles, and is currently the only company in the world engaged in mass production of rechargeable storage batteries for micro- and e-buses. The company’s extensive patented battery and recharging technologies include a unique system for rapid charging (less than half an hour) and the ability to produce high capacity up to 700 Ah batteries. Winston Battery’s proprietary technology and manufacturing methods ensures its cost of production and market price is considerably lower than its competitors.