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UK electric truck maker Modec falls into administration

UK-based electric commercial vehicle maker Modec, a partner with Navistar (earlier post), has entered administration. On 4 March 2011, R K Grant, S J Appell and A C O’Keefe of Zolfo Cooper were appointed Joint Administrators; Joint Administrators are licensed to act as Insolvency Practitioners by the Insolvency Practitioners Association.

According to a report in the Birmingham Post, Modec had been in talks with American partner Navistar on a takeover deal, but the transaction fell through around ten days ago leaving the firm with no option but to call in the administrators.

Zolfo Cooper has cut about half the Modec staff, and is looking for a buyer for the company.

Comments

Reel$$

Always wondered how an e-truck works when the best economical battery technology can barely deliver 40M AER. This company went in too soon without enough money or technology.

Henry Gibson

There has been an unwillingness to use the proven ZEBRA cells for the more expensive Lithium cells because of their widespread use in telephones and the public's and developer's desire for the latest technology. And also the higher costs of larger batteries in place of tiny range extending engine generators. This is coupled with the limited sources of funds with the current economic failures of countries.

Lead batteries could have been used most of the time at a small fraction of the costs of lithium units especially if range extender generators were provided as demonstrated by the company AC Propulsion with their TZERO and prototypes over ten years ago. Improved versions of the round cell batteries used then are still available, EFFPOWER bipolar batteries could have been used for acceleration and regeneration. ..HG..

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