HARBOR CITY, Calif.--(BUSINESS WIRE)--Balqon Corporation (OTCBB: BLQN), an emerging developer and manufacturer of zero emissions heavy-duty electric vehicles for Class 7 and Class 8 applications, today announced the release of its lithium-ion battery powered heavy-duty electric truck designed for use in on-highway short haul applications.
Balqon’s new product, the Mule M150, is designed as a zero emissions solution for short haul on-highway routes in inner cities, port facilities and airports for the distribution of goods and cargo. The Mule M150 is equipped with Balqon’s fully integrated heavy-duty electric drive system and lithium-ion batteries to provide increased range and performance. Balqon announced that the Mule M150 is able to travel at a speed of up to 55 miles per hour and has a range of 150 miles on a single charge under unloaded conditions.
Balwinder Samra, Balqon Corporation’s President and Chief Executive Officer, commented, “While electric delivery trucks with a 7 ton capacity are new to inner city delivery applications, we believe they show significant potential in improving performance and environmental pollution. The Mule M150 is a zero emissions heavy-duty truck that we believe is an ideal solution for inner city applications where trucks idle in congested city traffic. We also believe that the use of our Mule M150 in these applications will result in reduced noise and air pollution.
“Considering that California has led the effort in environmental policy for decades, we felt that it would make sense for us to release our heavy-duty electric delivery truck at the Governors' Global Climate Summit, chaired by California Governor Arnold Schwarzenegger,” said Mr. Samra. “The release of our Mule M150 completes our product line of heavy-duty electric vehicles that also includes our Nautilus yard tractors and drayage vehicles. Now that we have completed our heavy-duty truck product line, we plan to increase our focus on worldwide sales and distribution for our products,” added Mr. Samra.
About Balqon Corporation
Balqon Corporation 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 current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities. For information about Balqon Corporation and its product offerings, visit www.balqon.com. Balqon Corporation’s common stock is eligible for trading on the OTC Bulletin Board under the symbol “BLQN”.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, Balqon Corporation’s ability to sell electric vehicles and the commercial viability of vehicles equipped with lithium-ion batteries are forward-looking statements that involve a number of risks and uncertainties. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, unforeseen technical issues; Balqon Corporation’s ability to attract sufficient capital; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation’s products; changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation’s filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the “Risk Factors” section of Balqon Corporation’s Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission on May 22, 2009 and Balqon Corporation’s Quarterly Report on Form 10-Q for the period ended June 30, 2009 filed with the Securities and Exchange Commission on August 14, 2009.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6062939&lang=en