CINCINNATI - AMP Holding Inc., a company engaged in the emission-free electrification of OEM vehicles, and DTE Energy, the Detroit-headquartered diversified energy company providing gas and electric services to 2.7 million Michigan homes and businesses, jointly announced the signing of an agreement for Amp to "electrify" three of DTE Energy's fleet vehicles.
DTE Energy has selected three SUV fleet vehicles which are being electrified or "Amp'd", as part of the $5 million grant from the Michigan Public Service Commission (MPSC) awarded to DTE Energy in 2008. The all-electric DTE Energy fleet of Saturn Vues will be powered by Amp's exclusive modular electric powertrain system. The DTE Energy Amp'd vehicles will have a range of up to 150 miles on a single charge and will be rechargeable using either 240-volt or standard 120-volt outlets.
DTE Energy has been very active in the electrification of vehicles, and through this effort with Amp and the MPSC, is working to ensure the grid is ready for the commercialization of electric vehicles, and the demand created therein.
"Cleaner fuel and zero emissions are an important decision in moving into the future with our fleet vehicles," said Vince Dow, DTE Energy vice president of distribution operations. "Amp's electric vehicles are clearly moving in that direction."
"Amp's electric powertrain was first launched in the U.S. in October 2010, with our Amp'd electric Equinox SUV," said Steve Burns, Amp CEO. "Our electric propulsion system is a perfect answer for fleet vehicles like the Saturn Vue and Ford Escapes, for example. We are very excited to expand the use of our technology to DTE Energy's Saturn Vue fleet vehicles. This represents a much needed solution not only for the environment, but also for the economy throughout the Detroit area."
DTE Energy plans to take delivery of the first of three Amp'd fleet vehicles in December.
About AMP Holding Inc.
AMP was founded in 2007 by automotive industry veterans who have created several hi-tech companies. Currently, the AMP team is comprised of top engineers and business executives, as well as two key pioneers of GM's EV1 project. AMP is currently electrifying the GM Chevrolet Equinox; its first models to all-electric were the GM Sky and the Pontiac Solstice. Since its inception, AMP's unique electrification technology has proven to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP will be electrifying a wide range of OEM vehicles and SUVs, and expects to announce new model additions in 2010. The Company expects its vehicle electrification technology will provide new solutions to America's energy demands.
To learn more, visit the AMP website at www.ampelectricvehicles.com.
About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on gas storage and pipelines, unconventional gas production, power and industrial projects, and energy trading. Information about DTE Energy is available at dteenergy.com and at twitter.com/dte_energy.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release (Nov. 16, 2010).
