HARBOR CITY, Calif. (August 1, 2011 ) —Balqon Corporation (OTCBB: BLQN), a developer of electric drive systems, lithium battery systems and medium to heavy-duty electric vehicles, today announced the availability of its new Mule M100, a zero-emissions, all-electric on-road truck for use in inner-city deliveries and cargo transportation. The Mule M100 has a top speed of 70 miles per hour and can travel up to 100 miles before having to recharge, making it ideal for daily, short-haul deliveries. The Mule M100 also demonstrates the expansion of Balqon’s product portfolio into the Class 7 on-road market and the versatility of its drive system technology, which is now being applied to buses and trucks.
The Mule M100 was developed using Balqon’s proprietary heavy-duty electric vehicle drive system that includes complete power management, propulsion, and power conversion systems, which makes the Mule M100 more energy efficient than other medium-duty trucks with similar functionality.
“The Mule M100 was designed to address our customers’ needs for a reliable, efficient and durable solution for on-road cargo transportation that expands beyond the heavy-duty, off-highway market,” said Mr. Balwinder Samra, president and CEO of Balqon Corporation. “With fuel prices continuing to rise, we remain committed to continuing our leadership in innovative technologies and developing lower operating cost zero-emissions transportation solutions that are uniquely designed for each customer.”
In addition, the Mule M100 features a 24-foot deck and four ton capacity to accommodate the pickup and delivery of beverages, packages and shipment of cargo for inner city deliveries. The Mule M100 is equipped with an air ride suspension and cab air conditioner providing the operator with all the comforts and ergonomics, but without the engine noise and emissions, of comparable gas or diesel powered trucks. The Mule M100 fully recharges in three hours, allowing customers to increase the vehicle’s range with the opportunity of charging during the day.
About Balqon Corporation
Headquartered in Harbor City, California, Balqon Corporation is a leading developer of zero-emissions electric drive systems, lithium battery systems and medium to heavy-duty electric vehicles. Balqon’s proprietary electric drive system encompasses complete power management, propulsion, flux vector motor controllers and energy systems. Balqon electric vehicles and drive systems are marketed globally to companies, governments and municipalities looking for viable and effective ways to reduce their vehicle maintenance and operating costs and lower carbon emissions. Balqon is recognized as a pioneer in commercial electric vehicle technology and development of energy efficient transportation solutions. For more information, please visit www.balqon.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, the commercial viability of Balqon Corporation’s Mule M100 and whether the Mule M100 is more powerful compared to other medium-duty trucks with similar functionality are forward looking statements that involve a number of risks and uncertainties. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, customer acceptance of the Mule M100; unforeseen technical issues; Balqon Corporation’s ability to attract sufficient capital and labor to manufacture its products; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation’s products, including the Mule M100; changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation’s filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the “Risk Factors” section of Balqon Corporation’s most recent Annual Report on Form 10-K and Quarterly Report for the three and six months ended June 30, 2011 filed with the Securities and Exchange Commission