AMP Holding Inc., a company engaged in the emission-free electrification of OEM vehicles, has signed a letter of intent (LOI) with Northern Lights Energy (NLE) to support the introduction of all-electric SUVs into Iceland as part of a national electric vehicle (EV) project. Under terms of the letter of intent, subject to various conditions described below, NLE committed to purchase 1,000 all-electric SUVs from AMP over a five-year period.
NLE is actively promoting means of sustainable transportation and has initiated the Icelandic National EV Project, involving various stakeholders such as municipalities and large companies in a national consortium with the aim to build a nationwide charging infrastructure and end Iceland’s dependence on imported oil through the electrification of transportation. Iceland has no domestically-produced oil, according to the CIA World Factbook.
AMP’s 100% electric vehicle technology makes it an ideal partner to work towards our underlying goal of radically improving the transportation industry in Iceland. The SUV segment now captures approximately 35% of the Icelandic car market, and while most industry players are focused on other market segments, we have high hopes for this segment and in AMP’s market-ready technology—Gisli Gislason, CEO of NLE
AMP expects to deliver its first Electric SUV to NLE in early 2011. After an initial review, NLE intends to demonstrate the AMP’d SUV to the EV Project Consortium members, followed by public exhibition. It is the intention of NLE to purchase a variety of all-electric SUVs from AMP for utilization within fleet operations as well as for re-sale within the its market region. NLE’s interest and commitment is contingent upon AMP successfully demonstrating and meeting certain conditions pertaining to the production and specifications of its EVs.
AMP is in discussions with several potential OEM partners to supply the underlying SUVs for AMP’s electric conversions. AMP’s intention is now to extend those discussions to the Iceland project.
In February, AMP introduced its first SUV all-electric conversion platform, the GM Chevrolet Equinox. The “AMP’d” Equinox is an up-fitted GM Chevrolet Equinox that will reach a top speed of 90 mph (145 km/h), and will accelerate from zero to 60 miles per hour in approximately eight seconds. With its 37 kWh Li-ion pack, range is 150 miles (241 km). The AMP Equinox features dual Remy motors applied in an AMP-manufactured drivetrain. (Earlier post.)