Category Archives: Pricing info

Private Equity Firm Acquires Controlling Interest In Tomcar

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In February Markstone Capital Partners of Los Angeles acquired a controlling interest in Tomcar, which makes offroad vehicles for military and industrial applications.  Terms of the agreement were not released.

Last year Tomcar had received an investment from Markstone and had opened up a 85,000 square foot contract manufacturing facility in Auburn Hills, MI in partnership with German-based EDAG.  At full production the facility can produce just over 10,000 vehicles per year but initial production targets were for 2,000 vehicles in 2008 and 5,000 in 2009.  According to reports, the first vehicles rolling of the line were for a custom order and vehicles for the general market start this month.

The vehicles, which retail starting between $14,000 and $15,000, come in two-seater, four-seater or mini-truck versions.  They have applications in military, mining, security patrol, farm and ranch, recreation and tourism uses.

Total investment in the plant was estimated to be $9.5 million. Tomcar also has facilities in Israel and Phoenix, AZ.  Learn more

Tata Developing Electric Nano For Western Markets

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Tata Motors is developing an electric powered version of their Nano. The gas powered Nano will hit the Indian market later this year, and with a price tag of $2,000 will be the cheapest car in the world. However, for Western markets, the company wants to sell an alternative fuel vehicle. To this end, Tata Motors acquired a majority stake in Miljo Grenland Innovasjon last year. The Norwegian company specializes in electric car technology. The low speed electric Nano will be targeted towards urban and gated community market segments. Tata is also working with MDI Enterprises on a compressed air powered version of the car, which will also be a low-speed vehicle. Learn more

Japanese Firm Exhibits Electric One-Seater

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Prototype T10 Minicar

Prototype T10 Minicar

Takeoka Jidosha Kogei Ltd exhibited a prototype of their upgraded electric minicar at the Interational Automotive Electronics Technology Expo in Tokyo Japan last week.  The minicar, currently named T10, is expected to be available in Japan sometime in 2009 and will be priced above $9,520, the cost of their current model in the market, the Milieu R.

The T10 is slightly longer, wider and higher than the Milieu R and is powered by four 12 volt batteries.  The top speed is 55 km/h and the range is 50 km/hr.  Curtis Instruments provides the controller for the vehicle.  Learn more

ZAP Developments

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Last week ZAP announced that partner Integrity Manufacturing had completed its application for a $200 million loan from the U.S. Department of Energy’s (DOE) Advanced Technology Vehicles Manufacturing Loan Program. The loan is for a manufacturing facility in Kentucky for producing ZAP vehicles as well as other all electric vehicles.

Later this month, at the National Automobile Dealers Association conference in New Orleans, ZAP plans to debut their new Shuttle and XL Truck. These LSVs have a top speed f 25mph and a range of 30 miles. The Shuttle has an MSRP of $14,700 and the truck will list for $14,500.

Chicago To Allow LSVs?

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Mayor Daley of Chicago is set to introduce an ordinance in the City Council today that will allow residents and city agencies to use LSVs on Chicago streets with speed limits up to 30 mph.

The ordinance is part of the Mayor’s “green Fleet” initiative which already includes the purchase of four GEMs for use inside fleet management facilities. The city expects to add more vehicles for parking enforcement, some refuse collection tasks and crowd control in contained areas.

From our point of view this is a significant development that such a large city is moving towards allowing LSVs. To date, mostly smaller communities have adopted LSV ordinances. This action could set a precedent for other large cities, provides high profile exposure for LSVs and offers a test case for the use of LSVs in urban areas. We will be watching to see if the ordinance passes and how many of Chicago’s residents will choose to use LSVs.