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e-Traction Europe BV
Vissenstraat 36
7324AL Apeldoorn
T: +31 55 521 1111
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@: info@e-Traction.eu

e-Traction signs Memorandum of Understanding (MoU) with ECONEX Ltd.

18-05-2010 - e-Traction Europe B.V. which is specialised in Automotive Powertrain applications for electrical vehicles has signed a Memorandum of Understanding (MoU) with the Korean company ECONEX Ltd for the cooperation, development and implementation of the e-Traction TheWheel technology in the Korean automotive industry.

The MoU was signed on April 28, 2010 in a ceremony at the trade mission of the Ministry of Economic Affairs in the presence of PM. Jan Peter Balkenende, Mr. Bernard E.M. Wientjes of VNO and the Dutch ambassador in Korea Mr. Hans Heinsbroek.

ECONEX and e-Traction believe that this cooperation is the first step towards the start of the conversion of initially five Korean buses with the e-Traction Technology, using the direct drive traction system (ECM) better known as TheWheel which is scheduled to be tested next year.

After successfully having tested this system in Korean environmental conditions, ECONEX will start the conversion of a further 2000 buses which is planned to start in mid 2011 and to be finalised in 2016.