Balqon Expands Distribution Into Europe With Mol Transport Solutions

"We view Mol as a strategic partner in regards to Balqon entering the European continent, as Mol’s experience in the region provides us with the knowhow to gain European compliance for our products," said Balwinder Samra, president and CEO of Balqon Corporation. "This relationship will provide us the ability to localize our current products to European standards while adding new product configurations such as 4 wheel drive roro tractors to our existing product line."

"In addition to Balqon’s current combined product line, Balqon and Mol plan to jointly develop an all electric product configuration for on-road applications in Europe that will incorporate Balqon’s proprietary drive system and high-capacity lithium-ion battery packs," said Samra.

Mol Transport Solutions represents the fourth international dealer agreement Balqon has established since the first of the year. In February, Balqon entered into an agreement with Autoelevadores Yale, a leading distributor of material handling equipment and electric vehicles in Argentina.

In March, Balqon entered into an agreement with Industrias IVOR, a distributor of trucks, firefighting trucks and equipment, refuse trucks, and heavy machinery for material handling products in Colombia. In June, Balqon entered into an agreement with Electric Cars of Costa Rica, a distributor of light duty trucks, golf carts, trams and neighborhood electric vehicles in Costa Rica.

Founded in 1944, Mol Transport Solutions is a developer of high quality container chassis for all types of containers, tipper designs, roro tractors, refuse vehicle bodies, rail yard switchers and other heavy duty vocational products. Mol also provides subcontract manufacturing services related to the fabrication of custom vehicles such as fire trucks, military transport vehicles and refuses vehicles.

A team of 500 employees and specialized technicians are responsible for after-sales service, nationally and internationally. Mol has ISO 9001-2000 certification, a Caterpillar Certified Supplier label and the CNH Quality Award. These accreditations are the outcome of the company’s permanent quality assurance and constant refinement of production methods.

Headquartered in Harbor City, California, Balqon Corporation (OTCBB: BLQN) is a leading developer of heavy-duty electric trucks, tractors and electric drive systems. The company uses its proprietary flux vector control technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation’s product line of tow tractors built on Autocar LLC chassis are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities.

www.balqon.com

www.molcy.com