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Leading Automotive Integrator FEV Joins Plug-In Hybrid Consortium to Develop 100 mpg+ PHEVs.

AUBURN HILLS, Mich. -- The Plug-In Hybrid Development Consortium (the "Consortium") announced today that FEV Engine Technology, Inc., one of the world's leading developers of advanced powertrain and vehicle technologies, has joined the Plug-in Hybrid Development Consortium. The Consortium is made up of a growing number of automotive suppliers, manufacturers and other organizations working together to accelerate the commercial production of Plug-in Hybrid Electric Vehicles, (PHEVs).

"FEV is pleased to join the Consortium and contribute our expertise to the development of the next generation of hybrid vehicles. We believe that plug-in hybrid electric vehicles can be practical and cost-effective, and support the role of a full electric drive system in achieving significant improvements in fuel economy and reduced emissions," said Bob Last, FEV's Vice President of Operations and Communications.

FEV Engine Technology is part of the worldwide FEV Group, headquartered in Aachen, Germany, with technical centers located in Aachen, Auburn Hills, Michigan and Dalian, China. For 30 years, the world's leading automakers have relied on FEV as a preferred developer of engine, powertrain, and vehicle technologies in addition to FEV's unique competence as a vehicle systems integrator. FEV works with OEMs worldwide to develop and prototype new powertrain and vehicle systems that can be integrated into OEM production vehicles. FEV brings valuable powertrain, vehicle, prototyping, and system integration and engineering services to the Consortium, which plans to support automakers and their suppliers in their efforts to build affordable plug-in hybrid vehicles with the potential of achieving over 100 mpg.

"We welcome FEV to the Consortium," said David West co-founder of the Consortium and VP Marketing, Raser Technologies (NYSE Arca:RZ). "Their role as a leading system integrator is a valuable addition to the Consortium and we plan to work closely with them in the development of advanced PHEVs."

About The Plug-in Hybrid Development Consortium.

The Consortium is made up of component suppliers who intend to work together with participating automobile manufacturers to coordinate and accelerate the development of key hybrid components and demonstrate these advanced technologies in "next generation" plug-in hybrid electric vehicles.

More information:

Plug-In Hybrid Development Consortium: www.hybridconsortium.org.

FEV may be found at: http://www.fev.com.
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Publication:Business Wire
Date:Nov 30, 2007
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