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USA: Amp electric car company to stop making passenger cars

Amp Electric Vehicles (OTCBB: AMPD) announced that it will stop making electric-powered Mercedes sport-utility vehicles and focus instead on supplying commercial truck fleets.

“People told us how surprised they were that our Mercedes SUV performed every bit as good as the original vehicle – except quieter, quicker and surprisingly refined,” Stephen Burns, CEO of Loveland-based Amp, said on a conference-call presentation. “However, it became apparent that the short-term market for passenger car EVs (electric vehicles) did not grow as quickly as forecasters had predicted.”

For full text of the call, click here.

He said Amp, which converts cars to use electric power, will concentrate on medium sized – up to 20,000 pounds – trucks with predictable driving patterns and routes. Users of such vehicles, which currently tend to run on diesel fuel, include major delivery services, including the U.S. Postal Service, and businesses such as plumbers and florists.

Amp announced Aug. 27 that it had, with Navistar International Corp., completed initial testing of an all-electric 1,000-cubic-foot step van. The company, formed in 2007, has 21 employees.


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