Enova Systems Enters Relationship with FordNovember 19, 2001 by Jeff Shepard
Enova Systems Inc. (Torrance, CA) announced that it has entered into a strategic relationship with Ford Motor Co. (Dearborn, MI). Enova has been selected by Ford's Th!nk brand to develop and manufacture a high-power, high-voltage conversion module (HEC) for their upcoming fuel cell vehicle.
Under the terms of the strategic relationship, Ford will have the opportunity to own up to 4.6 percent of the outstanding common stock of Enova Systems. The relationship will last for five years during which Ford will evaluate Enova for future programs. The first of these programs will be the development of a power conversion device for use in an upcoming Ford Th!nk development program. The HEC module will convert high-voltage power from the fuel cell into a lower voltage.
Th!nk Executive Director John Wallace stated, "Ford believes Enova Systems to be a valuable team member in our company's development and commercialization of alternative fuel vehicles. Enova's unique solutions and technical expertise in the field of power conversion and management systems are an asset to Ford."