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Frito-Lay to Acquire Electric Vehicles from Hybrid Technologies

5 December 2005

Lithium_fritolay

Frito-Lay has approved a preliminary joint marketing venture and acquisition of lithium-ion powered electric vehicles from Hybrid Technologies. (Earlier post.) Frito-Lay, with more than 15 $100-million brands such as Lays and Fritos, is the $10 billion convenient food division of PepsiCo, Inc.

The multinational will purchase and take delivery of models of the Lithium Mini Cooper model as well as the Daimler Chrysler Smart Car Lithium version from Hybrid Technologies. The first Frito Lay vehicles are scheduled for delivery by Q1 2006.

The Hybrid Technologies Smartcar offers speeds in excess of 75 mph, with a range of 120+ miles at highway speeds. Slower speeds will extend that to more than 150 miles.

Eighty lithium-ion polymer cells in series offer 30 kWh of power with nominal voltage at 280V; the battery pack weighs 400 lbs. The lithium cells have a cycle life of more than 1,000 charges at full discharge. Charge time with a 6,000-watt battery charges (220V) is four hours at 90%, 5.5 hours at 100%.

December 5, 2005 in Electric (Battery), Fleets | Permalink | Comments (11) | TrackBack (1)

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Comments

One wonders if they will merely use them as advertising curiousities, and whether they'll be used in the USA. Funny, my first thought about Frito Lay was - wonder if they're turning all that waste fryer oil into biodiesel! :^)

Are these travelling billboards, or will they be used in replacement of gas burning miles?

What waste fryer oil? It all goes out in the products :_>

Perhaps you jest, but it's true. My (biodiesel) mercedes mechanic works on some trucks for a local Frito-Lay grower and they were talking about doing some WVO conversions to save on gas with his delivery trucks; figured he could drive down, deliver the spuds, pick up/fill up with some filtered WVO and be good to go for the next RT. They were amenable to the idea, but said that they don't have any waste as it does indeed all go into the chips (they have to keep adding to the fryer vats). A potato chip is 40% grease.

I realize I'm a little off topic but...

I recently came into some money and would like to invest a portion of it towards stocks working with eletric vehicles. It's an area of interest for me, something I'm passionate about and I would feel good investing in it. Does anybody here have any suggestions/advice regarding companies working in this field?

Thanks in advance -

^ Most companies working in the field either (a) work on lots of things and this is small change in their portfolio, or (b) aren't publically traded.

Your best bet might be a green mutual fund or somesuch, although it won't be specifically just elec vehicles...

Not really a stock or investment, but something I recently found was TerraPass (www.terrapass.com). Its really capitalism at its best. You calculate on the site how much emissions your car releases each year, then you can buy a "TerraPass" that equals those emissions levels (only $35.00 for me) and the money you pay is certified to be used on clean energy/efficincy projects that directly offset your car's emissions.

terraplast sounds and looks like a total scam. Without government enforcement, how do you resolve the free rider problem?
Man I wish I would have though of this scam. I would be rich!

Sorry Justin, I dont think its a scam. The list of projects they have worked on is on the site, and they work with organizations like the Chicago Climate Exchange.

Before anyone thinks seriously about investing in this company, you should take a look at what some of the Dow Jones reports say: http://www.harrisdirect.com/servlet/inet/qndigest.trn?research_cde=BSW&key_nmb=BW051204005042&trn_key_nmb=BSW051205000003&symbol=HYBT&selection=all_news_sources&cond=NEWSNCOMMHDL

Didn't anyone think it odd that the company was selling it's whole fleet of demo vehicles? Check out the reports filed with the SEC. Does this really sound like good investment? Why would the CEO be selling off her shares - she has under 10,000 left.

Let the buyer beware!

Sorry - for the link to you work you need to logon to Harrisdirect.com. Here's a copy of the article - again, check the SEC filings and see for yourself:

=DJ IN THE MONEY: Hybrid Technologies And The Missing Fritos

--------------------------------------------------------------------------------

07:30 ET

=DJ IN THE MONEY: Hybrid Technologies And The Missing Fritos

08 Dec 07:30


By Carol S. Remond
A Dow Jones Newswires Column

(This article was originally published Wednesday.)

NEW YORK (Dow Jones)--Hybrid Technologies Inc. (HYBT) must really think that
investors are in the market to buy a bridge.

This small developer of battery-powered vehicles, which has issued
exaggerated press releases in the past, published another misleading release
Friday in which it said that Frito-Lay Inc., the snack food unit of PepsiCo
Inc. (PEP), had agreed to purchase a fleet of lithium cars. Hybrid Technologies
also said in the release that it and Frito-Lay entered into a preliminary joint
marketing and public relations partnership after executive meetings at
Frito-Lay's headquarters in Plano, Texas.

Turns out that neither Frito-Lay nor PepsiCo authorized that release.

"Any meeting held between Frito-Lay and Hybrid Technologies would have been
exploratory only," said Frito-Lay spokesman Charles Nicolas, adding that
Frito-Lay has asked Hybrid Technologies to retract the press release.

Scott Meehan, a lawyer for Hybrid Technologies, said told Dow Jones Newswires
that the press release had been approved by PepsiCo. Meehan provided Dow Jones
with copies of two emails written by Frito-Lay employees.

According to one email dated Nov. 22, Frito-Lay had "processed the invoice of
$100,000 for the purchase of Hybrid vehicles." It also said its next two steps
were to get one Smart car delivered as soon as possible and a "Hybrid
Technologies facility tour and test drive of Hybrid vehicles on Nov. 30, 2005."
In the other email dated Dec. 2, one Frito-Lay employee is asking a press
spokesman about his thoughts regarding a vendor's (presumably Hybrid
Technologies) desire "to communicate the following press release which is
factually accurate." A document attached to that email was not forwarded by
Meehan and it's unclear whether that document was in fact the press release
later issued by Hybrid Technologies.

But Frito-Lay spokesman Nicolas said that "under no circumstances would a
press release like (the one issued by Hybrid Technologies) have been authorized
or even considered." Nicolas said that Frito-Lay told Hybrid Technologies not
to issue the press release before it was disseminated by several corporate
services.

Nicolas said that while Frito-Lay had at one point considered purchasing two
to four vehicles from Hybrid Technologies, Frito-Lay had now ended discussions
regarding this matter and that no money was paid to the electric car company.

The spokesman said Hybrid Technologies' publication of the release over its
objections was in part responsible Frito-Lay's decision not to move forward
with the hybrid vehicles company.

As reported in an "In The Money" column on Nov. 17, on two previous occasions
Hybrid Technologies has issued misleading press releases that were disputed by
some of the companies or people mentioned in them.

On Nov. 2, Hybrid Technologies announced an "historical partnership" with
Volkswagen America which involved a deal to "jointly produce a lithium-powered
concept vehicle to be utilized by Volkswagen."
A VW spokesman told Dow Jones that his company only signed a letter of intent
with Hybrid Technologies. He said that VW didn't approve the press release
which he said "overstated things." The release disappeared from Hybrid
Technologies' Web site after Volkswagen asked that it be retracted.

On April 6, Hybrid Technologies said its "inaugural R-Car, number 001, has
found a new home with Tonight Show host and car aficionado Jay Leno."
Not so, said Leno. "I'm not connected to it and have no interest in it," Leno
told Dow Jones. "I'm a car guy. I get calls and I look at things. That's it,"
Leno said, adding that his attorney told Hybrid Technologies to stop using his
name.

Hybrid Technologies' stock, which trades over the counter, was recently
trading at $6.77 a share, down 4.4%, or 31 cents.

Press releases aside, there are plenty of reasons for investors to shy away
from Hybrid Technologies.

As noted in the November "In The Money" column, Hybrid Technologies,
previously known as Whistler Investments Inc., has no revenue, not much cash
and about $4.3 million in liabilities and has fallen behind on some of its
obligations. The company carries a warning in its financial statements from its
auditors raising "substantial doubt about the company's ability to continue as
a going concern."

(Carol S. Remond is an award-winning columnist and one of four who write the
"In The Money" feature. Most recently, she won a 2005 Gerald Loeb Award for
best news service content with "Exposing Small-Cap Fraud," a series of articles
that described how three small companies unscrupulously pumped up their
stocks.)

-By Carol S. Remond, Dow Jones Newswires; 201-938- 2074;
[email protected]

(END) Dow Jones Newswires
12-08-05 0730ET
Copyright (c) 2005 Dow Jones & Company, Inc.



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