Hybrid Technologies, VW Project Commences

A high level research and development project has commenced between Hybrid Technologies Inc. and Volkswagen. Hybrid Technologies and its subsidiaries – R-Electric Car Co., Global Hybrid Corp., and Solium Power Corp. – will jointly produce a lithium-powered concept vehicle to be used by Volkswagen. The vehicle will highlight demonstrable lithium technology placed into a concept vehicle.The project will remain highly confidential for several months while development work is conducted at Hybrid Technologies’s new facility in Mooresville, North Carolina. Additional research and development will take place in California.

Although Hybrid Technologies has initiated work with Volkswagen, development executives of Hybrid Technologies Lithium’s vehicle division have been negotiating with DaimlerChrysler to produce concept vehicles. Hybrid Technologies has been working on a series of lithium systems that will far surpass the previous models produced in 2005. The addition of several new research engineers and design specialists, including Martin Koebler and Ron Cerven, has enabled the company to take on projects with major automobile manufacturers.

Hybrid Technologies has expanded its development and manufacturing facility and increased its plant size by over 300% to satisfy the need for greater production, decreased delivery dates, and an increase in staff.