Vision Industries' recent announcement that it has finalized a purchase order agreement with Total Transportation Services, Inc. (OTC:TTSI) represents a major step for the Gardena, California, company. Vision is a developer of zero emission electric/hydrogen hybrid powered vehicles and turnkey hydrogen fueling systems. The agreement with TTSI, one of the largest delivery carriers in Los Angeles and the Port of Long Beach, calls for an initial purchase from Vision of 100 Tyrano Class 8 Trucks, the nation's first street legal zero emission Class 8 hydrogen/electric hybrid GVWR (Gross Vehicle Weight Rating) truck. The agreement also allows TTSI to purchase an additional 300 Vision trucks, which would bring the total value of the contract to approximately $108 million.
Vision's proprietary electric/hydrogen hybrid drive system combines the acceleration of a battery powered electric vehicle with the extended range provided by a hydrogen fuel cell. The result is vehicles having superior pulling capabilities, extended range, and lower lifetime cost of ownership. On a per mile basis, Vision heavy-duty Class 8 trucks are substantially less expensive to operate than diesel or natural gas powered trucks, offering a per mile cost savings of around 35% to 45%.
Vision CEO, Martin Schuermann, said of the agreement: "It has been a long road from our letter of intent signed a year ago to the closing of definite agreements. However, it was a very productive process in which we could identify specific needs of the trucking industry and translate those needs into our technology."
The company also offers the Zero Emission Terminal Tractor (ZETT) electric/hydrogen hybrid, a terminal tractor designed to work a double shift before refueling. The ZETT is jointly developed by Vision and the Capacity of Texas.
Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net