Smith Electric Vehicles sells trucks to U.S. Marine Corps
Kansas City Business Journal - by David Twiddy
Date: Monday, December 13, 2010, 10:51am
Smith Electric Vehicles U.S. Corp. has sold two of its all-electric trucks to the U.S. Marine Corps, its first sale to the military.
The Kansas City-based company said Monday that the two Smith Newton trucks will be built locally and delivered to the Marines’ Camp Pendleton outside San Diego in February. Smith Electric said this was the first military sale through a government purchasing contract the company received earlier this year from the General Services Administration.
Like other parts of the federal government, the Marines are being required to reduce the use of fossil fuels. The Corps has a goal of reducing total energy use by 30 percent by 2015 and increasing use of renewable electric energy to 25 percent by 2025.
The Smith Newton can carry more than 16,000 pounds, reaching speeds as fast as 55 miles an hour and traveling as far as 120 miles on a single charge. In a release, the company said the trucks would be used for base deliveries and personnel transport.
Most of the company’s truck sales have been to corporate customers such as Frito-Lay, Coca-Cola, AT&T, Staples and Kansas City Power & Light Co.
Smith Electric is in negotiations to merge with its British partner, Smith Electric U.K.
These military orders are exactly the paradigm shift we have been predicting for VLNC.
VLNC has been very smart in targeting and cornering markets that other suppliers have been slow to identify. Military, post, fixed-route fleet, city buses, taxis, marine....
Now Valence and stockholders will begin to reap the benefits of this non-traditional sales strategy.
We don't need Leafs or Volts to make a major profit.
Breakeven or better in 2011.