S. Korea's CT&T Signs Pact to Supply Spanish Firm With 10,000 Electric Vehicles
By Scott Doggett March 5, 2010
South Korean electric vehicle manufacturer CT&T has signed an agreement to supply 10,000 electric vehicles to the Spanish company Ficosa Group.
A CT&T NEV on display at the 2010 Detroit Auto Show.
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It is yet to reveal any other details with regards to the value of the deal and the timeframe for the start of exports.
CT&T offers low- and mid-speed, short-distance plug-in EVs known as neighborhood electric vehicles. The company has been exporting such models to the U.S. market, as well as China, Canada, the United Arab Emirates, and Japan, since 2005 and produces 60,000 EVs every year in South Korea and China.
It is drafting long-term growth plans to remain competitive in the NEV market and recently proposed investing substantial amounts of money in the construction of plants in Pittsburgh, Pennsylvania, and in Russia. It recently signed similar deals with several overseas vehicle distributors.
The company's electric models have proved particularly popular with large municipal fleets and it currently has a contract to supply 4,000 NEVs to law-enforcement agencies in California.
The South Korean presidential office is currently running three EVs supplied by CT&T as part of plans to prepare them for introduction onto the local market by early 2011.
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