XP Vehicles Expects U. S. DOE ATVM Funding to Complete Development of Revolutionary Electric Vehicle
Safe, affordable, durable vehicles powered by alternative energy.
San Francisco, CA, February 11, 2009 --(PR.com)-- XP Vehicles, one of the first U.S. Department of Energy, Section 136, AVTM loan applicants, received notification that their application has been considered substantially complete and is currently in the eligibility phase of the DOE’s evaluation of their application to build “the electric vehicle for the mainstream market”. The company is committed to supporting the White House stimulus program with skilled engineering and manufacturing jobs in at least three locations. The company’s headquarters are in San Francisco, CA with development offices poised to be in the Detroit Metropolitan Areas and manufacturing in the Western United States.
“The XP Vehicles Mini-Utility Vehicle (MUV) “Rover” will be a safe, affordable, four passenger vehicle with a 100-plus mile per charge range on the base vehicle and an optional auxiliary power system for extended range”, said Scott Redmond, XP Vehicles Founder and CTO. “The company uses proprietary design, power array and pressure-membrane materials to significantly reduce the gross weight of the finished vehicle to less than 1/3 the weight of a standard Toyota Prius.”
For more information on XP Vehicles, please visit www.myxpcar.com.
About XP Vehicles, Inc.
Founded in 2008, XP Vehicles, Inc.’s mission is to develop a safe, affordable vehicle with the lowest total cost of operation (TCO) and the best power-to-weight ratio powered by alternative energy. The company’s founders have extensive industry experience in automotive design, automotive operations lean manufacturing, new materials, startups and fund raising. The company is seeking to enter the market with the "vehicles of change" offering hope for the new auto industry and the economy as a whole and is committed to establishing as many American jobs as possible, as soon as possible.
XP Vehicles also seeks to partner with universities and federal development centers to extend the domestic impact of the funding. The project is “shovel ready” per current congressional discussion and can start making an impact within weeks of receipt of funds.
About the ATVM Program
The Advanced Technology Vehicle Manufacturing Incentive Program (ATVM) was established under Section 136 of the Energy Independence and Security Act of 2007 and administered by the Department of Energy (DOE). The ATVM is an incentive program which provides loans and grants to automobile and automobile part manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.
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“The XP Vehicles Mini-Utility Vehicle (MUV) “Rover” will be a safe, affordable, four passenger vehicle with a 100-plus mile per charge range on the base vehicle and an optional auxiliary power system for extended range”, said Scott Redmond, XP Vehicles Founder and CTO. “The company uses proprietary design, power array and pressure-membrane materials to significantly reduce the gross weight of the finished vehicle to less than 1/3 the weight of a standard Toyota Prius.”
For more information on XP Vehicles, please visit www.myxpcar.com.
About XP Vehicles, Inc.
Founded in 2008, XP Vehicles, Inc.’s mission is to develop a safe, affordable vehicle with the lowest total cost of operation (TCO) and the best power-to-weight ratio powered by alternative energy. The company’s founders have extensive industry experience in automotive design, automotive operations lean manufacturing, new materials, startups and fund raising. The company is seeking to enter the market with the "vehicles of change" offering hope for the new auto industry and the economy as a whole and is committed to establishing as many American jobs as possible, as soon as possible.
XP Vehicles also seeks to partner with universities and federal development centers to extend the domestic impact of the funding. The project is “shovel ready” per current congressional discussion and can start making an impact within weeks of receipt of funds.
About the ATVM Program
The Advanced Technology Vehicle Manufacturing Incentive Program (ATVM) was established under Section 136 of the Energy Independence and Security Act of 2007 and administered by the Department of Energy (DOE). The ATVM is an incentive program which provides loans and grants to automobile and automobile part manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.
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Contact
XP Vehicles Inc.
Rudy Mui
510-868-2862
www.myxpcar.com
Rudy Mui
510-868-2862
www.myxpcar.com
Contact
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