Forbes lists two EV firms among America’s Most Promising Companies
Saturday, December 3, 2011 Charged EVs
ALTe Powertrain Technologies and Coda Automotive are two of America’s Most Promising Companies, according to Forbes. The conservative business mag’s annual list spotlights 100 privately-held companies with compelling business models, strong management teams, plenty of capital, and notable customers and strategic partners. Forbes chooses honorees using a complex algorithm that includes both data-crunching and subjective evaluation of news announcements.
“Sizing up younger, privately held companies is hard: The fortunes can change very quickly and there’s a dearth of public data,” says Forbes Executive Editor Brett Nelson. “We took a more comprehensive approach to evaluate their health and potential.”
Michigan-based ALTe makes range-extended electric powertrains designed to replace gas engines in light to medium duty commercial vehicles. The technology can be retrofitted into existing vehicles or installed in gliders to produce new models. The company reported lots of good news this year, including supply agreements with battery maker A123 and electric motor supplier Remy, a partnership with vehicle remarketer Manheim, a collaboration with Pacific Gas & Electric to test their technology on PG&E’s fleet of trucks, and a joint venture with Inmatech to produce hybrid electric storage devices.
“This is a very exciting time for ALTe and we are truly honored to be listed as one of America’s Most Promising Companies by Forbes,” said John Thomas, CEO and co-founder. “This award is a validation of the strategic alignments we’ve made and a show of support to our unique place in the alternative automotive market that ALTe identified and addressed with our range-extended plug-in hybrid electric vehicle powertrain.”
Also on the list is Coda Automotive, which is developing an all-electric 4-door sedan that will go on sale in 2012. The company also supplies lithium-ion batteries to other automakers. Founded in 2008, Coda has raised $147 million in capital.
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CHICAGO, IL, – June 7, 2012 – ALTe Powertrain Technologies, developer of the first range-extended plug-in electric hybrid powertrain for light commercial fleet vehicle applications, today announced that it has created a Commitment to Action as part of the Clinton Global Initiative America (CGI America) meeting. ALTe has committed to spur adoption of hybrid electric technology in the worldwide fleet industry and bolster clean technology jobs in America.
| May 16, 2012 – The crew at Translogic took the time to stop by and see the the team at ALTe Powertrain Technologies. Founded by a group of former Tesla Motors executives, the company focuses on building plug-in hybrid conversions for fleet vehicles.
| AUBURN HILLS, Mich., – April 16, 2012 – ALTe Powertrain Technologies and Club Assist today announced a joint development project to study ALTe’s powertrain technology in Club Assist’s fleet. Project will be a first for Club Assist, a company committed to electrification of fleets.
| AUBURN HILLS, Mich., – March 22, 2012 –ALTe more than doubles miles per gallon for the popular E350 full-size fleet van.
| February 29, 2012 – Extended range electric vehicle powertrain company ALTe (earlier post) is tracking to produce a limited number of production-caliber vehicle powertrains by December, and plans to ramp up production in the first quarter of 2013.
| January 11, 2012 – Alternative-fuel and fuel-efficient vehicles are increasingly becoming fleet mainstays — electric vehicles and hybrids are a common sight in a growing number of fleets
| December 3, 2011 – ALTe Powertrain Technologies and Coda Automotive are two of America’s Most Promising Companies, according to Forbes. The conservative business mag’s annual list spotlights 100 privately-held companies with compelling business models, strong management teams, plenty of capital, and notable customers and strategic partners.
| AUBURN HILLS, Mich., – December 1, 2011 – Forbes Magazine has named ALTe Powertrain Technologies (ALTe), developer of the first range-extended plug-in hybrid electric vehicle powertrain for light commercial fleet vehicle applications, as one of America’s Most Promising Companies.
| October 30, 2011 – Before there ever was an EcoBoost engine, Ford sold tons of F-150 trucks as fleet vehicles with engines that were far more gas guzzling. Now, ALTe is ready to convert many of those trucks with its proprietary ALTe Green Box as shown at The Battery Show 2011.
| October 27, 2011 – No thanks, the three founders of ALTe Powertrain Technologies told Tesla Motors CEO Elon Musk when Tesla decided to close its Michigan Tech Center. Rather than move to Palo Alto and continue work on luxury electric vehicles, we’ll stay in Michigan and start a new company on the eve of an industry downturn to build an alternative powertrain for light commercial vehicles. |