ZENN Motor Company Inc. (ZMC) (ZNN.V) announced Monday that it will cease production of low-speed electric vehicles to focus exclusively on the commercialization of its electric drive train technology for high-speed vehicles.
In September, the company announced the first stage of a restructuring, abandoning plans to develp its own highway-capable vehicle.
ZMC’s ZENNergy™ drive solutions are powered by EEStor Inc.’s
Electrical Energy Storage Units (EESUs). The company also said it is working to integrate additional third-party and proprietary technologies being
developed by the Company.
"This focus, which has long been integral to the Company’s plans, reflects
the dramatic shifts that have occurred within the automotive industry and the broad-based interest in
electric vehicle (EV) solutions," ZMC said in a release.
The company aims to become a key supplier and partner with industry-leading Original Equipment Manufacturers (OEM) and Tier 1 companies in the new, used and specialty
vehicle markets.
The low-speed vehicle, calld the ZENN, launched in 2006, and helped create brand awareness for ZMC. The 2010 model will be the last, and production will cease by April 30th.
“With the valuable experience we’ve gained and the tangible progress EEStor has made over the past
year, we are now confidently turning the page in the evolution of ZENN Motor Company from a
manufacturer of LSVs into a Tier 1 supplier to automotive and specialty vehicle companies, including
other LSV OEMs, all of whom are in great need of a solution such as that represented by ZENNergy™
drive,“ said Ian Clifford, CEO of ZENN Motor Company.
EEStor, Inc. (theeestory.com) is a privately held U.S. battery-maker in which Zenn owns a minority stake.
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