Mexico City to Convert 1000 Goverment-Use Nissans to HEV/EV Drive Trains

From the Press Release:

Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) ("Azure" or the Company") a leading developer of hybrid electric and electric powertrains for commercial vehicles, today announced it has signed a supply agreement with Electro Autos Eficaces of Mexico ("EAE").

The initial order is for 1,000 drive systems for integration into the Nissan Tsuru platform, which is commonly used in the municipal fleet of Mexico City. The Tsurus are being converted from gasoline-powered vehicles to electric vehicles as part of Mexico City Mayor Marcelo Ebrard's initiative to improve air quality and general health and quality of life in the city. Mayor Ebrard will drive the first converted vehicle to the International Electric Vehicle Forum on May 8, 2007 in Mexico City. The balance of the 1,000 vehicles will be converted over the following 18 months. Azure's scope of supply for the 1,000 drive systems includes the motor, controller, gearbox and DC-DC converters and is valued at more than CDN$7.0 million.

Campbell Deacon, Azure's CEO said, "We are very pleased to have our product chosen for this program. EAE's business has been established to deliver electric vehicle transportation to both the public and private sectors in Mexico City with a goal of expansion throughout all of Mexico. We believe our technology, cost competitiveness and reliability have factored into EAE's selection of Azure Dynamics for this program."

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