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USA: Ten Transit Connect Electric Vans Join New York City Fleet

Azure Dynamics sells 10 Transit Connect Electric vans to New York City in support of Mayor Bloomberg’s ‘PlaNYC’ agenda to create a greener New York City
• NYC launches educational program to encourage city residents to consider EV vehicles
• Syosset Ford, in Huntington, New York managed the transaction

OAK PARK, MI, July 14, 2011 /PRNewswire/ – Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) (“Azure” or the “Company”), a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles, today announced ten Ford Transit Connect Electric van sales to New York City as part of Mayor Michael R. Bloomberg’s PlaNYC agenda to create a greener New York City.

“We are delighted that New York City chose Azure’s Transit Connect Electric to be deployed within several key city departments as part of their PlaNYC initiative,” said Scott Harrison, Azure Dynamics’ CEO. “The thrust for adoption of EV technology is growing rapidly worldwide and Mayor Bloomberg’s ‘Drive Electric NYC’ educational program will help sustain that momentum by providing facts about electric vehicles to encourage more city residents to consider electric for their next vehicle purchase.”

New York City boasts the largest municipal electric vehicle fleet in the country, now totaling 430 units. Azure’s Transit Connect Electric will be deployed in multiple city departments including the New York Fire Department and the Departments of Transportation, Central Administration and Sanitation. However, in addition to acquiring EV units, the City hopes to accelerate EV adoption among its residents.

“We will continue to lead by example, but we must also provide New Yorkers with the tools to make environmentally friendly choices in their own lives,” said Mayor Michael Bloomberg. “When provided with the facts, people become far more likely to choose an electric vehicle.”

Mayor Bloomberg cited a survey by McKinsey & Company that suggested that when people are provided basic information they become dramatically more interested in electric vehicles. The study also suggested that the range of an electric vehicle far exceeds the average American’s daily miles traveled.

“Although Azure has been immersed in electrified travel for decades, we thoroughly understand that EVs are a new and relatively unknown concept for many potential customers,” said Harrison. “However, as NYC demonstrated, customer uncertainties are fading fast while the correlating appreciation for EV fuel and environmental advantages surge forward.”

A unique combination of car-like driving dynamics, cargo capacity, maneuverability, accessibility and low operating costs are characteristics that make the Ford Transit Connect Electric an ideal choice for commercial customers seeking to lower fuel costs and improve environmental performance of their fleet. Commercial vehicle fleets are increasingly seen as the logical starting point for electric vehicles due to typical drive cycles that include travel on predictable, short-range, routes with frequent stop and go driving in tight urban or suburban environments. Commercial vehicles generally return to a central location at the end of a drive cycle making for efficient and convenient recharging over night.

The NYC Transit Connect Electric vans were sold through Syosset Ford, in Huntington, New York. The new NYC electric vehicle information website, ‘Drive Electric NYC’ is available via www.NYC.gov.

For more information on how Azure vehicles are Driving a World of Difference, please visit www.azuredynamics.com.

About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements Advisory

Certain information included in this press release constitutes forward-looking statements and information and future-oriented financial information under applicable securities legislation and is provided for the purpose of expressing management’s current expectations and plans for the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

More particularly, this press release contains statements concerning Azure’s anticipated: business development strategy, customer orders, product deliveries, sales, revenue and revenue growth. The forward-looking statements are based on a number of key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs and sales, target market acceptance of Azure’s products, current and new product performance, availability and cost of labor and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions used to develop the forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve numerous risks and uncertainties that contribute to the possibility that the projections and forecasts in the forward-looking statements will not occur and that actual performance or results could differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks associated with Azure’s stage of development, history of losses and lack of historical product revenues, uncertainty as to product development and sales milestones being met, product defect and performance risks, competition for capital and market share, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability and retention of management and key personnel, exchange rate and currency fluctuations, uncertainties relating to potential delays or changes in plans with respect to product development or capital expenditures, the ability of Azure to access sufficient capital on acceptable terms, and environmental and safety risks. This is not an exhaustive list and additional information on these risks and other factors that could affect Azure’s operations and financial results are included in reports on file with the Canadian securities regulatory authorities and can be accessed through the SEDAR website at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Additionally, Azure undertakes no obligation to comment on the expectations of, or statements made by, third parties about Azure.

SOURCE Azure Dynamics Corporation
Source prnewswire.com

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