Founded in 1944, Mol Transport Solutions develops heavy duty trucks for both off-highway and on-highway vocational applications. Its product line includes trailers, tractors and trucks used for moving containers at ports, rail yards and inner city applications.

We view Mol as a strategic partner in regards to Balqon entering the European continent, as Mol’s experience in the region provides us with the knowhow to gain European compliance for our products. This relationship will provide us the ability to localize our current products to European standards while adding new product configurations such as 4 wheel drive roro tractors to our existing product line.

In addition to Balqon’s current combined product line, Balqon and Mol plan to jointly develop an all electric product configuration for on-road applications in Europe that will incorporate Balqon’s proprietary drive system and high-capacity lithium-ion battery packs.

—Balwinder Samra, president and CEO of Balqon Corporation

Mol Transport Solutions represents the fourth international dealer agreement Balqon has established since the first of the year. In February, Balqon entered into an agreement with Autoelevadores Yale, a leading distributor of material handling equipment and electric vehicles in Argentina. In March, Balqon entered into an agreement with Industrias IVOR, a distributor of trucks, firefighting trucks and equipment, refuse trucks, and heavy machinery for material handling products in Colombia. In June, Balqon entered into an agreement with Electric Cars of Costa Rica, a distributor of light duty trucks, golf carts, trams and neighborhood electric vehicles in Costa Rica.