Azure Dynamics to supply electric components for Ford electric vehicles

Azure Dynamics Corp. (TSX:AZD), a maker of components for hybrid and electric vehicles, and distributor RohneSelmer AS say they have a preliminary agreement to supply Ford vehicles in Norway.

The companies said in a release Wednesday that they have signed a letter of intent for RohneSelmer to import and distribute Ford Transit Connect Electric vans, which use Azure technology.

The deal would cover 400 vehicles each year in Norway.

RohneSelmer facilitated Azure’s first European sale of vehicles using its technology in Norway in March.

"The Transit Connect Electric European market continues to develop quickly," said Scott Harrison, CEO of Azure Dynamics.

"This arrangement with RohneSelmer will offer Azure and its Transit Connect Electric a sophisticated distribution platform to further develop the significant opportunities we see in the Nordic Region."

RohneSelmer said interest in electric vehicles is growing in Norway.

The Transit Connect Electric went into production in Europe in June, following a production launch in North America in April.

Azure develops and produces hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles.