10/04/2007
Hybrid powertrain developer Azure Dynamics has signed a £3 million supply agreement to equip Mexico City’s public transport fleet.
Aim-quoted Azure has won an initial order from Electro Autos Eficaces of Mexico (EAE) to supply 1,000 drive systems to be integrated with the Mexican capital’s fleet of Nissan Tsuru vehicles. These are being converted from petrol to electric in an air-quality improvement driven by the city’s mayor, Marcelo Ebrard.
Campbell Deacon, chief executive officer of Toronto-based Azure, trumpets that ‘EAE’s business has been established to deliver electric vehicle transport to both public and private sectors with a goal of expansion throughout Mexico. We believe our technology, cost competitiveness and reliability have factored into EAE’s selection of Azure Dynamics’.
Azure’s shares have been volatile performers, falling from 78p in 2005 to 18.25p last month. They have rallied to 27p, up 5.75p today, and offer further speculative recovery potential for the risk friendly.
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