According to a recent article in the Detroit News, more than half of electric vehicle registrants reside in one of five metropolitan markets, with over 35% in just two cities – San Francisco and Los Angeles. Seattle, Atlanta and New York round out the top 5. Today’s retail trends in these cities toward green automobiles, including both electric vehicles and hybrids, may be due in large part to government subsidies at both the national and state levels.
Of course, electric vehicles extend beyond household brands and into other industries, such as trucking, public transportation and industrial vehicles for in-plant use. More and more companies are adopting electric vehicles as part of their fleet for many reasons, such as lower fuel costs and a commitment to the environment.
Here are a few companies operating in the green technology transportation space:
New Castle, PA-based Axion Power International * (OTCMKTS:AXPW) recently announced plans to unveil an electric hybrid 18-wheel truck at the Green Fleet conference in Indiana this month. The company teamed up with ePower Engines, based in Florence, KY, to retrofit a standard diesel truck using a diesel electric hybrid drivetrain and 56 PbC batteries from Axion. According to a recent press release, “It is estimated that the ePower hybrid system, utilizing PbC batteries, will be able to reduce fuel consumption by some 35% going forward.” AXPW closed September 9th at $0.13, no change for the day, with a market cap of $17.47 million. Its 52-week trading range is $0.12 – $0.38.
Meanwhile, Green Automotive Co (OTCMKTS:GACR), based in Newport Beach, CA, creates electric hybrid vehicles for both consumer and commercial use. When we last discussed green transportation, Green Automotive Co was planning to distribute their commercial electric vehicles in the UK. Recently, the company announced plans to bring electric shuttle buses to US markets. The company’s subsidiary, Newport Coachworks, will begin building the shuttle buses from the ground up in November. GACR closed September 9th at $0.28, no change for the day, with a market cap of $99.86 million. Its 52-week trading range is $0.13 – $0.52.
AMP Electric Vehicles, Inc, a subsidiary of Loveland, OH-based AMP Holdings Inc (OTCBB:AMPD), recently delivered two all-electric paratransit buses to the Berks Area Regional Transportation Authority (BARTA) in Reading, PA. The two buses use electric batteries with a wireless charging system and can go up to 100 miles between charges. AMPD closed September 9th at $0.31, up $0.002, with a market cap of $23.37 million. Its 52-week trading range is $0.08 – $0.58.
Electric vehicles have come a long way in recent years, both on the consumer end and for commercial use. From public transit to heavy trucking, electric vehicles provide a myriad of benefits to both companies and the environment. By continuing to invest in green transportation technology like electric and hybrid vehicles, these companies may continue to provide innovative new products in the electric transportation arena.
* Denotes a client of Allen & Caron, publisher of this blog.