PGE To Receive First Electric Fleet Trucks from Raser

Pacific Gas & Electric Company (NYSE: PCG) will be the first company in the United States to take delivery of new extended range electric (E-REV) fleet trucks made by Raser Technologies, Inc. (NYSE: RZ).

PG&E expects to take delivery of the first two E-REV fleet trucks
modified with Raser’s E-REV powertrain for initial testing and
demonstration before the end of 2010.

The extended range electric pick-up truck can drive the first 40 miles on lithium-ion batteries. It can continue driving over 300 miles by generating its own electricity from a small onboard gasoline-powered generator or “range extender.”

Pacific Gas and Electric Company operates the nation’s largest utility fleet with more than 14,000 vehicles. It also offers some of the cleanest electricity, with more than half of its power coming from renewable and non-carbon sources.

Raser says it plans to offer its E-REV powertrain in both GM and Ford (NYSE: F) models to accommodate the growing demand for clean vehicles that can capture available federal and state incentives designed to offset the additional cost of electrification. With a backlog of over 10,000 soft orders for plug-in fleet vehicles already, Raser plans to begin limited delivery to other fleets for field testing as early as 2011.

Raser also plans to offer its E-REV powertrain in popular SUV models in the near future.

Last month Raser signed an agreement with Korea’s Hyundai Heavy Industries (HHI) for joint development of the trucks, as well as renewable energy projects.

Raser is an environmental energy technology company focused on electric vehicles and geothermal power development.

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