Echo Automotive Demonstrates New Fleet Vehicle Hybrid Technology
Multi-Mode Hybrid System Combines Savings & Choice for Fleet Operators
INDIANAPOLIS--(BUSINESS WIRE)-- Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive" or the "Company"), a developer of technologies enabling the cost-effective conversion of existing fleet vehicles into fuel efficient hybrids, is pleased to announce the launch of its latest product offering, a multi-mode hybrid technology aimed directly at significantly improving the economic performance of fleet operations.
The Company, in its first public display, today demonstrated its proprietary hybrid electric vehicle (HEV) technology under the EchoDrive™ brand, along with revealing a notable shift in hybrid philosophy with the introduction of multi-power source selection capability via the implementation of a high capacity BEV mode (Battery Electric Vehicle) system option.
EchoDrive™ was conceived and developed as a bolt-on, easy-install system to convert traditional fleet vehicles to hybrid operation, with a design mandate to provide a quick return on investment through considered, attainable cost-saving performance in a practical package aimed at a broad-based critical market desperately in need of sustainable cost-saving solutions.
"Today's demonstration of an EchoDrive™ vehicle running in BEV mode delivers an incredible boost to the story behind why our platform is so unique," announced Dan Kennedy, CEO of Echo Automotive. "EchoDrive™ will now be available in both hybrid and plug-in hybrid (PHEV) versions, as we aim to deliver a broad range of capabilities across a variety of vehicles in the fleet transport sector by simply adding or removing modules.
"For example, the vehicle we previewed today is capable of running as a HEV, PHEV or BEV with a simple push of the button. In BEV mode, it's running completely under the propulsion of EchoDrive™ with the internal combustion engine turned off."
The flexibility of the EchoDrive™ platform allows a selected vehicle to be easily custom-configured for the requirements and drive cycle of that vehicle. "One customer may drive 75 miles per day, while another may drive only 30," continues Kennedy. "By uniquely configuring each EchoDrive™ system with different battery capacities and capabilities, such as BEV mode and site power, it allows our fleet customers to not only meet their operational objectives, but also lets the CFO track and realize the fastest payback currently achievable in this sector."
Echo Automotive's President, Jason Plotke, sees the introduction of BEV mode as tangible evidence of Echo's technology advantage. "When you can take a system like EchoDrive™ and add new functionality such as BEV mode through mostly software updates and the simple addition of an extended battery pack, it makes the benefits of Echo's modular platform extremely favorable."
The Company launched EchoDrive™ in late 2012 as an integrated system to convert existing fleet vehicles to electrically assisted powertrains, offering fleet managers an immediate low-cost alternative to the high capital investment of relatively unproven, all-new electric vehicle designs. The slow pace of development and introduction, combined with high costs for these new designs, has produced an unparalleled opportunity for EchoDrive™. The extensively engineered retrofit solution exploits proven vehicle platforms and readily available components, while offering absolute system redundancy as the original engine power is continuously available with or without the electric assist.
EchoDrive™ offers a combination of innovative system integration, flexible power management, scalable economics and a commitment to excellence in engineering, design and customer support. The Company is managed and led by a team of highly motivated and experienced executives, managers and advisors who have the vision and capability to deliver Echo Automotive into the forefront of this exciting and rapidly growing sector. Company management is focused firmly on success for its customers, vendors, employees and shareholders, and invites industry leaders and the public to find out more by visiting www.echoautomotive.com.
About Echo Automotive, Inc.
Echo Automotive, Inc. develops technologies and products designed for cost-effective conversion of existing vehicles into highly fuel-efficient hybrids and plug-in hybrids. The key to Echo's strategy is the bolt-on nature of its solution that introduces little or, in some cases, no additional points of failure, making it very low risk compared to competing solutions. For more information, please visit www.echoautomotive.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new technologies and development stage companies. These forward-looking statements are made as of the date of this news release and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our current report on Form 8-K filed October 15, 2012, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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