Coventry-based electric van producer Modec has collaborated with a US company to produce totally electric trucks to be sold in North and South America. Van producer Modec from the UK and the US company Navistar will be working together to produce the totally electric trucks according to a deal that was signed in the latter part of 2009.
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The joint venture was given a £23 million grant from President Obama earlier in 2009 and Modec obtained a £4 million government loan from Advantage West Midlands earlier on to bolster their business program. Modec was happy to receive help from the government during economic conditions that have made it hard to raise capital.
Modec is a pioneer in the electric vehicle industry; Modec was the first company to construct an electric vehicle from the ground up instead of just affixing a battery to a car that already exists. Business Minister Pat McFadden stated that companies such as Modec are vital to the Governments vision for the production of low carbon emission vehicles and for helping the automotive industry in the United Kingdom to manage the change from traditional to electric powered technologies. Mr. McFadden also went on to say that it was important for companies in the United Kingdom to be leading the pack in this technology in order to lay hold of the jobs of tomorrow.
Of the joint venture with Navistar, Bill Gillespie , Chief Executive of Modec commented that Modec was well pleased to join hands with Navistar in this new project and it’s a positive endorsement for the low carbon emission vehicle technology that Modec has formulated.