SOUTHBOROUGH, Mass. and
SINGAPORE, March 8, 2012 /PRNewswire/ -- Sevcon, Inc.
(NASDAQ: SEV), a global manufacturer of microprocessor based
controls for electric and hybrid vehicles, and Flextronics
Automotive, a business of Flextronics (NASDAQ: FLEX), a
leading global Electronics Manufacturing Services (EMS) provider,
today announced that they have entered into a cooperation agreement
to provide hybrid and electric vehicle drivetrain systems to
automotive OEM customers in Germany and other central European countries.
Flextronics Automotive provides fully integrated lighting
solutions, connectivity modules and power electronic applications
for automotive manufacturers around the world.
The agreement enables the companies to combine Sevcon's
state-of-the art motor controllers and onboard systems integration
products with Flextronics Automotive's high-voltage DC/DC
converter, charger and battery management technology in developing
complete drivetrain solutions for hybrid and pure electric vehicles
ranging in size from two-wheeled scooters to passenger cars and
trucks. The companies also have agreed to jointly pursue product
marketing and sales outreach to automotive OEM customers, with
Sevcon designated as Tier 1 supplier and Flextronics Automotive as
manufacturer for all combined product sales.
"Partnering with Flextronics Automotive will enable us to scale
our business to meet growing product demand in Germany and central Europe far more rapidly than we could on our
own," said Sevcon President and CEO Matt
Boyle. "With the ability to offer end-to-end solutions and
draw upon Flextronics' globally admired, high-volume manufacturing
capabilities, we look forward to completing larger deals with major
automotive OEMs that have the potential to dramatically accelerate
our growth."
"Sevcon is a globally proven innovator and leading supplier in
this exciting growth segment of the automotive market," said
Paul Humphries, business group
president of High Reliability Solutions at Flextronics. "Sevcon's
advanced motor control technology complements Flextronics
Automotive's energy efficient automotive portfolio and by way of
this partnership, together we can offer customers a more complete
drivetrain solution for the pure electric and hybrid vehicle
markets. We look forward to a mutually productive partnership
that creates new growth opportunities for both companies."
About Flextronics
Headquartered in Singapore
(Singapore Reg. No. 199002645H), Flextronics is a leading
Electronics Manufacturing Services (EMS) provider focused on
delivering complete design, engineering and manufacturing services
to automotive, computing, consumer, industrial, infrastructure,
medical, clean tech and mobile OEMs. Flextronics helps customers
design, build, ship and service electronics products through a
network of facilities in 30 countries on four continents. This
global presence provides design and engineering solutions that are
combined with core electronics manufacturing and logistics
services, and are vertically integrated with components
technologies, to optimize customer operations by lowering costs and
reducing time to market. For more information, please visit
www.flextronics.com.
About Sevcon
Sevcon is a world leader in the design and manufacture of
microprocessor based controls for zero emission electric vehicles.
The controls are used to vary the speed and movement of vehicles,
to integrate specialized functions, and to optimize the energy
consumption of the vehicle's power source. The company supplies
customers throughout the world from its operations in the
USA, the UK, France and the Asia
Pacific region and through an international dealer network.
Sevcon's customers are manufacturers of on and off road vehicles
including cars, trucks, buses, motorcycles, fork lift trucks,
aerial lifts, mining vehicles, airport tractors, sweepers and other
electrically powered vehicles. For more information, visit
www.sevcon.com.
Sevcon, Inc. Forward-Looking Statements
Forward-looking statements in this release about Sevcon's
agreement with Flextronics to develop and market complete
drivetrain systems for electric and hybrid vehicles are subject to
risks and uncertainties that could cause actual results to differ
materially from those we anticipate. In particular: the activities
contemplated under the agreement could fail to achieve their goals;
global demand for electric vehicles may not grow as much as we
expect; our customers' products may not be as successful as those
of other entrants in the electric vehicle market who are supplied
by our competitors; continuing economic instability may cause
customers to delay, decrease or cancel purchases of our products;
we are dependent on a few key suppliers and subcontractors for most
components, sub-assemblies and finished products, and we may not be
able to establish alternative sources of supply in time if supplies
are interrupted; we have a small number of key customers whose loss
would adversely affect our results; and our worldwide operations
are subject to the risks of international trade, including without
limitation regional economic downturns, exchange rate fluctuations,
and changing laws, regulatory practices and tariffs. Please
see the company's most recent forms 10-K and 10-Q on file with the
SEC for further information regarding Sevcon's risk factors.
Sevcon
Contacts:
|
|
David
Calusdian
|
Matt
Boyle
|
Sharon
Merrill Associates
|
President
and CEO
|
1 (617)
542-5300
|
1 (508)
281-5503
|
dcalusdian@InvestorRelations.com
|
matt.boyle@Sevcon.com
|
|
|
Flextronics Contacts:
|
|
Renee
Brotherton
|
Kevin
Kessel
|
Flextronics-Corporate Communications
|
Flextronics-Investor Relations
|
1 (408)
576-7189
|
1 (408)
576-7985
|
renee.brotherton@flextronics.com
|
kevin.kessel@flextronics.com
|
SOURCE Flextronics