Monday, September 16, 2013

Smith Electric Fleet Surpasses 700 Vehicles and Five Million Miles of Operation

Milestone marks transition into commercial manufacturing phase

Kansas City, Mo., June 11, 2013 – (Business Wire) – Smith Electric Vehicles Corp. (‘Smith Electric’ or ‘the Company’), the leading global producer of all-electric medium-duty commercial vehicles, today announced that it has now produced over 700 of its all-electric Edison™ and Newton™ trucks, which have cumulatively generated over five million miles on the road. This is a significant milestone for the Company and shows that the adoption rate of commercial electric vehicles by major global blue chip corporations continues to expand.


The Benefits
The growing demand for fleet transformation through electrification is driven by Smith Electric’s customers in recognition of the significant economic and environmental benefits of short-haul fleet electrification. Medium-duty gas and diesel trucks are expensive to operate and are one of the biggest contributors to urban pollution. These vehicles typically travel on fixed routes of fewer than 100 miles in a single day, and are based in a centralized depot, making them ideal for conversion.

Customers who work with Smith Electric to transform their fleets save an estimated 70% annually on fuel and maintenance during the life of the vehicle and eliminate all vehicle-based emissions. Across a large fleet this can mean millions of dollars in annual operational savings, hundreds of thousands of gallons of fuel offset, and sparing the air of tens of thousands of tons of greenhouse gases.
The five million miles travelled by Smith Electric vehicles have resulted in significant environmental benefits including the offsetting of an estimated 700,000 gallons of fuel, and eliminating more than 10,000 short tons of greenhouse gases.

“We do not think in terms of the truck; we think in terms of full end-to-end fleet transformation and all its associated benefits. This delivers substantial economic and commercial benefits for our customers and helps drive the growing demand for our product”, commented Bryan Hansel, chief executive officer of Smith Electric.  “With these important milestones achieved, Smith will be positioned to move fully into commercial scale manufacturing and enable electric fleet transformations around the world. Most importantly, we have first mover advantage in a vast global market for full fleet transformation. We look forward to the future with confidence.”

The Demand
Demand for Smith Electric’s complete, end-to-end fleet transformation service, which comprises initial consultation, vehicle supply and ongoing performance monitoring and maintenance, is frequently driven by CEOs and CFOs of companies who recognize the economic, environmental and commercial benefits of fleet electrification.

As a result, Smith Electric is the market leader in the commercial electric vehicle industry, with more miles and more trucks on the road than its three largest competitors combined.

Smith Electric believes that short haul urban transport is the current greatest market opportunity for fleet electrification, a market in which operator demand, logistical viability, political support and environmental benefit are all aligned. There are six million medium-duty commercial vehicles, representing a $40 billion market across North America, Europe and Asia-Pacific. The company estimates that a significant portion of these vehicles service short-haul routes in urban centers, and is targeting this segment for fleet electrification.

About Smith Electric Vehicles           
Smith Electric Vehicles Corp. is a leading designer and producer of all-electric commercial vehicles for short haul urban fleets. Smith produces zero-emission vehicles that deliver a significantly superior performance to traditional diesel trucks, at greater operational efficiency and significantly lower cost. The Smith mission is to be the leading producer of high efficiency, zero-emissions vehicles in the commercial transportation industry, utilizing its unique platform to partner with world-class brands to transform their entire fleets, help them operate more profitably and return energy to the grid.

The Smith Newton™ and Edison™ models are deployed in several countries across a variety of applications, including parcel, food, beverage and equipment delivery, and personnel transport. Smith Electric provides a full end-to-end approach to fleet transformation, comprising Smith Drive™ (fully integrated EV drive and control system maximizing vehicle performance), Smith Power™ (networked battery & power management system) and Smith Link™ (networked performance data). The Company operates manufacturing facilities in Kansas City, Mo., and Newcastle, U.K.

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