EL SEGUNDO, CA--(Jul 18, 2011) - Vision Industries Corp. (OTCBB: VIIC) announces that it has received a Letter of Intent from Total Transportation Services, Inc. (TTSI) of Rancho Dominguez, California, to purchase one hundred zero emission Tyrano™ hydrogen fuel cell-electric class 8 heavy-duty trucks at a total purchase price of approximately $27,000,000 dollars. The purchase is subsequent to the successful trial of the initial vehicle which will be delivered to TTSI on Friday the 22nd of July. The Letter of Intent also opens the door for TTSI to purchase an additional three hundred Vision trucks, bringing the total value of a TTSI sales contract to approximately $108 million dollars.
"We are pleased to see such demand from a trucking company of TTSI's caliber. It underlines our assumptions that there are multiple commercial applications for our hydrogen powered zero emission big rigs in today's trucking industry," says Martin Schuermann, CEO of Vision Industries Corp.
To jumpstart the LOI, TTSI will take delivery of the first Vision Tyrano™ zero emission truck for testing in commercial revenue service. The initial truck will perform typical drayage operations, hauling freight containers from port terminals in the Ports of Los Angles and Long Beach to rail yards and other distribution facilities.
Source: Marketwire
This latest development from Vision Industries follows an order (link) from the Port of Los Angeles delivered last April.
Image source: AutomotiveWorld.com
Source: Fuel Cell Today
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