EvCarCo, Inc.announced that the Company has secured a license for electric/hybrid vehicle technology. The technology allows for the production of lightweight fully wheel chair accessible electric and hybrid buses and has the capability to be utilized for niche utility vehicles such as garbage trucks and city utility vehicles.
Automakers sold 54,855 hybrids in August 2013, according to Autodata Corp., a sales tracking firm. This is an industry record and represents a 32% increase from the same period in 2012. Sales of rechargeable cars, which include plug-in hybrids, also set a new record in August 2013 with sales of 11,392 units. This represents a 147% gain from the same period in 2012.
Researchers at Frost and Sullivan recently released a Strategic Analysis of Global Hybrid and Electric Transit Bus Market that highlights the dramatic expected growth of this industry. Their findings point to a market penetration of 9.8 percent for hybrid transit buses and 5.4 percent for pure electric buses by 2020. Together, by 2020 hybrid and electric bus unit shipments will reach close to 42,000 units and worldwide sales will be growing at a compound annual growth rate of 20.6 percent.
Walter Speck, Chairman of EVCA, said, "Securing this technology is a very good fit with the EvCarCo EV business plan. I believe this will provide long term shareholder value and opportunity for EVCA and will continue to support this direction."
EvCarCo also announced that management is negotiating the return of the Company's shares as it relates to the American Rodsmiths transaction. The acquisition of ARS is not consistent with new management plans to focus on the environmental technology sectors and will no longer be pursued.