August 20, 2008

Raser Developing 100 MPG Plug-in Hybrid Light Truck for Initial Release to Utility and Government Fleets

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PROVO, UT – Raser Technologies is developing a 100 mile per gallon (mpg) light truck in addition to a 100 mpg SUV. Raser’s plug-in electric drive system is designed to allow light trucks such as the Chevy Silverado, Ford F-150, or Dodge Ram to achieve more than 100 mpg in typical local daily driving with near zero emissions, by using electricity instead of petroleum as the primary fuel.

The announcement comes as Raser nears completion of a 100 mpg SUV demonstration vehicle, built in cooperation with a leading global OEM, using the same drive system. Unlike most hybrid or even plug-in hybrid vehicles that still rely mainly on a combustion engine, an extended range electric truck (E-REV) using Raser’s drive system is propelled entirely by a powerful 200 kW peak electric motor using lithium ion batteries. The truck is being developed in cooperation with the Plug-In Hybrid Consortium Development (www.HybridConsortium.org) and is designed to operate with zero direct emissions during typical local daily driving, according to http://cts.businesswire.com.

Pacific Gas and Electric Company (PG&E) of California will test and demonstrate one of the first E-REV pick-up trucks from Raser Technologies. In February, PG&E signed an agreement with Raser Technologies to purchase two plug-in hybrid SUVs using Raser’s electric drive system for early testing and demonstration.

Raser’s plug-in hybrid trucks are expected to cut operational fuel costs up to 75 percent by driving in all-electric mode during typical daily fleet routes of up to 40 miles. When driving beyond the 40-mile battery electric range, the E-REV trucks may continue up to 400 miles by generating their own electricity.

The company has already established a development agreement with a leading global automaker and a leading automotive integrator to build a 100 mpg plug-in hybrid electric SUV using Raser’s proprietary electric drive system and award-winning Symetron technology.

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