Parker Hannifin Corp. (UK), a leading manufacturer of motion and control technologies and systems, announced it is making an equity investment in Vectrix Corp., a zero-emission vehicle company that manufactures high-performance electric scooters. Parker's investment will help Vectrix to begin production of a full-size, high-performance, long-range, low-emission electric scooter. Financial terms were not disclosed.
Parker has worked closely with Vectrix over the past two years to develop the Vectrix battery-powered electric scooter. Parker and Vectrix recently unveiled the second generation of the scooter, which integrates a fuel cell system with the battery-powered electric scooter. The fuel cell/electric hybrid scooter, known as the VX-FCe, is expected to be launched in major cities throughout Europe and the United States in the next two to three years.
