With this partnership, ALTe's fleet customers will be able to take their vehicle to a Manheim operating location and Manheim will retrofit their light trucks and vans with an ALTe series plug-in electric hybrid powertrain.

The fleet customer will then reinsert the vehicle back into its fleet and realize fuel economy improvements of up to 200 percent.

The major components of the ALTe powertrain will include a 20kWh lithium ion battery pack, a four-cylinder engine, electric drive motors, a generator, a proprietary hybrid controller unit and HVAC modules.

The powertrain is projected to provide an initial 30 miles of driving in an all-electric mode, powered directly from the lithium ion battery pack. The vehicle can then drive an estimated additional 275 miles in a charge-sustained mode before the vehicle would need to be either plugged in or refueled.

The battery pack can be charged within an eight-hour timeframe from a 110-volt outlet or in about four hours from a 220-volt outlet. Fuel economy is projected to increase by up to 200 percent with no loss in cargo capacity, increased torque, and comparable horsepower and towing capability when compared with the old V8 engine.

The ALTe powertrain is targeted to the light truck market with a focus on commercial, government and utility fleets.

Job #one for ALTe is projected for spring 2012 with the company beginning to accept purchase orders at the end of 2011.

John Thomas, CEO of ALTe, said: "ALTe is excited to have the opportunity to work with Manheim, which is recognized as the world's leading remarketing company. Their reputation for quality and their familiarity with the fleet industry is a perfect fit for our business model.

“We look forward to their participation in the electrification of the automotive industry as we progress toward next year's product launch for ALTe.”

Fredrick Standfield, vice president of frontline operations at Manheim, said: “We were extremely impressed with the ALTe technology, management team, and business model and are looking forward to expanding the broad range of services that we presently offer to our fleet and automotive customers.

“This partnership will allow us to utilize available capacity in our auction facilities and complements our strategy to grow our revenue base within the clean technology space.”

Will the deal benefit ALTe?

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