Lee Iacocca Joins Unique Mobility Team To Market Ethos Family of Electric and Hybrid Vehicles
12 December 1997
Lee Iacocca Joins Unique Mobility Team To Market Ethos Family of Electric and Hybrid Vehicles
ORLANDO, Fla., Dec. 12 -- The Ethos HEV, a sleek two-
passenger hybrid electric sports car -- the latest in a series of clean
vehicle developments from Italian car designer Pininfarina and Unique Mobility
(AMEX: UQM) -- debuted today at the 14th International Electric Vehicle
Symposium and Exposition (EVS-14) in Orlando, Florida.
In comments at the presentation, Ray A. Geddes, Unique's Chairman and CEO,
also announced that EV Global Motors (EVG), headed by former Chrysler Chairman
Lee Iacocca, has joined Pininfarina and Unique in a cooperative effort to
assess, promote and serve the international market for the Ethos family of
vehicles. "Lee Iacocca's energy, insight and vision should jump start the
interest in and demand for alternative transportation," said Geddes.
Golden, Colorado-based Unique and Turin (Italy)-based Pininfarina have
collaborated on the design and development of electric and hybrid vehicles for
over two years. Iacocca formed EVG in March 1997 to develop and market light
electric transportation systems such as bicycles, scooters and commuter cars.
Shortly thereafter, EVG acquired roughly 12 percent of Unique's outstanding
shares to become the company's largest shareholder. Iacocca sits on Unique's
board of directors and Geddes sits on the board of EVG.
"In a nutshell -- I've decided to come clean," commented Iacocca. "I plan
to provide Americans a range of new and exciting light electric vehicles that
are quiet, clean, safe and fun. It's my way of helping clean up the world a
bit!"
As a first step, EVG has contracted with Unique to develop an electric
motor for bicycles and intends to join Unique and Unique's Taiwan joint
venture partners to market electric scooters throughout the Western
Hemisphere." We believe there's a market today for light electric vehicles --
bikes, scooters and commuter cars. It may take a while to bring cars like
the Ethos to market, but it will happen," added Iacocca.
The Ethos HEV: A New Kind of Hybrid
The Ethos HEV is a sporty open roadster in the great Italian tradition.
Its chassis is a lightweight metal space frame fitted with non-structural
thermoplastic body panels. The hybrid electric powertrain features a midship
mounted 40 kW (53 hp) 0.8 liter Orbital direct-injected 2-stroke engine with a
10.5 kW (14 hp) UQM(R) charge-sustaining power assist motor/generator. A
13 Ah battery pack functions as an energy absorber. Curb weight of the Ethos
HEV is a low 781 kg (1720 lbs). It accelerates to 60 mph (96 km/h) in just
over 11 seconds with a top speed of 108 mph (173 km/h).
Unique's motor/generator, mounted between the transverse two cylinder in-
line engine and 5-speed transmission, is an integral part of the powertrain
system. In addition to microprocessor-controlled torque and power assist, it
provides instantaneous engine starting, accessory power, regenerative braking
and torsional damping.
This enables the Ethos HEV to utilize a much smaller engine with
significantly lower emissions, improved fuel economy and reduced engine
vibration.
The Ethos HEV is the second innovation to come from the Pininfarina-Unique
partnership. The first, the Ethos 3EV battery-powered commuter car, was
introduced in October 1996 at EVS-13 in Osaka, Japan. This year, the roomy
four-door, four-passenger Ethos 3EV will be featured at EVS-14 in a parade
through the EPCOT Resort and as part of the exposition's ride and drive
activities.
Unique Mobility, Inc. is one of the world's leading developers of energy
efficient electric and hybrid vehicle systems. It engineers and manufactures
high efficiency permanent magnet motors and controls for automotive, aerospace
and industrial applications. For more information on the Company, please
visit our world wide web site at http://www.uqm.com.
This release contains forward-looking statements that involve risks and
uncertainties. The Company's actual results could differ materially from thos
discussed in this release. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed in the Company's
Registration Statement on Form S-3 (file no. 23843). These forward-looking
statements represent the Company's judgment as of the date of this release.
The Company disclaims, however, any intent or obligation to update these
forward-looking statements.
SOURCE Unique Mobility, Inc.
