ENOV News People's Republic of China: First Auto Works Introduces Enova Hybrid Powered City Bus
TORRANCE, Calif.--(BUSINESS WIRE)--Dec. 14, 2005--Enova Systems, (OTCBB:ENOV)(AIM:ENV)(AIM:ENVS), a leading developer and manufacturer of electric, hybrid and fuel cell digital power management systems, announced today that one of its customers, First Auto Works (FAW) of China, introduced its "Hybrid City Bus." The Hybrid City Bus, powered by Enova's 80kW Parallel Hybrid Drive system, was produced at FAW's Wuxi, China Assembly Plant on December 10, 2005.
FAW is the largest automobile manufacturer in China, having more than 50 years experience in the design and manufacture of commercial and passenger vehicles. Production volumes have exceeded 900,000 units per year since 2003. FAW, with its expertise in not only buses, but also automobiles and trucks, allows Enova a major opportunity to capture additional market share for both light and heavy-duty vehicles throughout China and other parts of Asia.
According to FAW, the Hybrid City Bus realizes a fuel economy increase of 38% and an emissions reduction of 30%. "We are very pleased that FAW has included us in China's National 863 Plan. We value their support and look forward to progressing with this partnership," stated Enova Chief Executive Officer, Edwin Riddell.
The Hybrid City Bus is a dynamic breakthrough for FAW, in that it incorporates 10 patents. The project's inception was a result of China's National 863 plan, which aids and allows China to keep abreast of various rapid developments of high technologies in the world, trace the world advanced level and reduce technology gaps between China and other countries. For Enova Systems, the Hybrid City Bus demonstrates their versatility in a variety of vehicle applications in the U.S., the United Kingdom, Japan, Italy and other countries.
About Enova Systems, Inc.
Enova Systems is a leading supplier of efficient, environmentally friendly digital power components and systems products. The Company's core competencies are focused on the development and commercialization of power management and conversion systems for mobile and stationary applications. Enova applies unique 'enabling technologies' in the areas of alternative energy propulsion systems for light and heavy-duty vehicles as well as power conditioning and management systems for distributed generation systems. The Company develops, designs and produces drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com.
This news release contains forward-looking statements relating to Enova Systems and its products that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "could," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology and statements about industry trends and Enova's future performance, operations and products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. These and other risks and uncertainties are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission, including but not limited to Enova's annual report on Form 10-K for the year ended December 31, 2004. This forward-looking information should be considered only in connection with the aforementioned risk factors. Enova assumes no obligation to update such forward-looking statements.
