FOR IMMEDIATE RELEASE

EPRI & Renaissance Cars Inc. Sign Business Alliance to Design & Develop Low Cost Electric Vehicles

Anaheim, CALIF. -- (Dec. 1,-1994) The Electric Power Research Institute (EPRI), the research and development arm of the U.S. electric utility industry, and Renaissance Cars Inc. (RCI), a Palm Bay, Fla., developer of electric vehicles (EVs), today announced that they have signed a Business Alliance Agreement which will accelerate the introduction and promotion of electric personal transportation. BPRI's funding will support RCI's effort,s to prove the feasibility of manufacturing a functionally commercially attractive, energy effcient EV which retailers can offer profitably at a price of less than $20,000

EPRI and RCI jointly announced the agreement here today at EVS-12, the twelfth annual showcase and conference on new developments in the electric vehicle Lndustry. EPRI is one of the sponsors of the show.

Under the alliance. RCI will continue its proof-of-concept research and development to demonstrate the feasibility of low-cost manufacturing and sale of consumer EV s. EPRI will also form a product advisory board of participating member electric utilities to work with RCI in the design and testing of one or more comfigurations of a low-cost vehicle with special features to fit the unique needs of the U.S. electric utility industry. This vehicle will help electric utilities comply with the electric vehicle mandates of the Energy Policy Act of 1992, which requires alternative fuel suppliers to increase the percentage of alternative-fuel vehicles in their fleets from 30 percent in 1996 to 90 percent by 1999. electric utilities have an extension to the mandates to Dec. 31, 1997, for electric vehicles.

"Our goal in this program is to prove that EV s truly can compete head-to-head with intemal-combustion engine powered vehicle--even with today's technology," said Clark Gellings, EPRI Vice President, Customer Systems Group. "The RCI vehicles will prove that low-cost, good-looking, highperformance, safe, reliable electric vehicles are possible."

RCI uses a unique design-for-efficient manufacturing concept to achieve its cost goals. The company first created a specification for ground-up vehicle design, and analyzed each component on the bill of materials to sce if new design technologies, materials, or manufactunng could supply superior performance at lower cost For example, the Renaissance prototype uses state-of-the-art electronics to replace high-cost mechanical steering columns and differentials. An aluminum frame also holds down weight and cost.

"We have designed our line of EVs so that we can build them profitably even in small quantities on a low-rate production line" said Robert Beaumont, RCI president. "We have also designed the vehicles to use today's lead-acid batteries, and to easily upgrade the vehicles to newer advanced battenes as they come available on the market." RCI recently completed a business alliance with Electrosource Lnc., the Austin developer and manufacturer of the Horizon EV battery. The purpose of this alliance is to extend the range of RCI products with Horizon batteries. For example, RCI anticipates that the Horizon battery pack could extend the 60 80 mile range of its Tropica roadster to 100 miles or more.

While working on the utility vehicle, RCI plans to manufacture and offer to the public more than 2,700 consumer vehicles through its dealer network during 1995.

By 1998. Califomia will require that 2% of all vehicles produced for sale in the state be zero emissions, and 10% by 2003. Maine, Maryland, Massachusetts, New Jersey and New York have passed similar legislation. Delaware, the District of Columbia, New Hampshire, Pennsylvania and Rhode Island are also considering such mandates. With Califomia, these 11 areas account for about 33% of the national new car and light truck market.

Beauunont founded RCI in 1989 to develop and produce a line of low-cost electric vehicles. EPRI, founded in 1972, manages the technical Research and development programs for the electric utility industry to improve power production, distribution and use. Some 680 utilies are members of the Institute.

FOR FURTHER INFORMATION CONTACT: Bob Beaumont, President, Renaissance Cars Inc., 407-724-2284 Jack Guy, Manager, Commercialization, EPRI Electric Transportation Business Unit, 415-855-2803.


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