From the Wires
SORL Wins Electric Air Compressor Contract from Shen Zhen Wuzhoulong
By: PR Newswire
Nov. 5, 2012 06:15 AM
ZHEJIANG, China, Nov. 5, 2012 /PRNewswire-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ: SORL)("SORL" or "the Company"), a leading supplier of brake and control systems to the global commercial vehicle industry, today announced the Company received a 400-unit order for its new electric air compressor from Shen Zhen Wuzhoulong Motors Group. Released in July 2012, the new electric air compressor is selling at 8,000 RMB per unit. In addition to Wuzhoulong, the Company has also received indication of purchasing interest for the same products from other large bus manufacturers in China.
Air brake compressors used in traditional vehicles are powered by an internal combustion engine. SORL's new generation of electric air brake compressors are powered by an electric motor, thereby increasing fuel conservation and reducing pollution. The new compressors have an extended life span as it is far easier to make them start or stop working. An electric air compressor is a necessity for all electric buses with an air brake system.
Mr. Huaping Wang, the chief engineer of SORL, commented, "Electric powered bus is a new growth area in China. This contract demonstrates that the quality and design of our new electric air compressor is on par with global standard. We will continue to innovate in tune with OEM market trends and government policies, as well as engineer higher value-added products for our customers. It is estimated that by 2020, the production capacity of pure electric and plug-in hybrid vehicles will reach 2 million units, while cumulative production and sales are expected to exceed 5 million units. We believe that our proven technology, competitive pricing and long-standing relationships with key players position us well to capture more opportunities in this growing new market segment."
Shenzhen Wuzhoulong is the largest alternative energy bus manufacturers in China. The "Wuzhoulong" brand coach bus has over 150 vehicle models that are between 6-18 meters in length and powered by either diesel engines or hybrid engines. The Wuzhoulong brand bus has been designated as the main alternative energy bus for the Guangzhou Asian Games.
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