AC Propulsion, Peraves AG sign Letter of Intent to build E-Tracer EV for U.S.

AC Propulsion, manufacturer of electric drive systems, and Peraves AG, whose E-Tracer EV was named a winner in the Progressive Automotive X-Prize contest, have announced they have signed a “Letter of Intent” to produce the EV in the U.S.

The E-Tracer, which is essentially an enclosed two-seater motorcycle, utilizes AC Propulsion’s proprietary tzero EV system.

“We are proud to announce that we have recently signed a Letter of Intent to supply the propulsion systems to Peraves and assist in bringing the E-Tracer to market,” Tom Gage, AC Propulsion CEO, said in a statement. “The E-Tracer is the perfect expression of performance with efficiency. The E-Tracer a niche vehicle, but it sets a benchmark for what can be done with electric propulsion, and that will help inform the larger EV market as it develops. That was the purpose of the Progressive X-Prize and, acting on that, it is our intention to have E-Tracers on the road in 2011.”

AC Propulsion will assemble the production version of the E-Tracer at its facility in San Dimas, California. 21st Century Motoring will be coordinating sales and marketing. AC Propulsion and Peraves have tentatively set plans to sell 100 E-Tracers next year.

Source: AC Propulsion