Enova Systems Comments On Tanfield Group PLC
Enova Systems has announced that it has fulfilled, on time, all quantities of previously scheduled orders for drive systems delivered to The Tanfield Group PLC for their Smith Electric Vehicles division.
According to Enova, it supplies 100% of drive systems used in Smith Electric’s Newton and Edison models. Enova states that it does not supply battery container systems or any components impacting the supply chain issue referenced in Tanfield’s interim results update released on July 1, 2008.
Among the items highlighted in its interim results update, Tanfield announced that although demand for electric vehicles has held up, it now expects lower forecast sales of electric vehicles. To date, Enova has delivered 450 drive systems to Tanfield, consisting of 306 units in 2007 and 144 units in 2008. Enova previously expected to supply Tanfield with in excess of 1,000 units in 2008 and as many as 3,000 in 2009. Due to Tanfield’s realigned growth strategy, Enova now expects significantly fewer orders of drive systems from Tanfield in 2008 and 2009.
The Enova drive system design is suitable for different applications and vehicle producers. As a result, Enova believes it can mitigate any decline in Tanfield orders by redirecting inventory through sales and production with other customers. Enova customers also include FAW, IC Bus, Isuzu, Wrightbus, and Darwen.
"The market for electric vehicles is expansive," said Michael Staran, President and CEO. "Enova will continue to execute on its goal of becoming the premier clean vehicle solution in the medium and heavy truck and bus market."