BLUE ASH, Ohio, July 27 /PRNewswire-FirstCall/ -- AMP Holding Inc. (OTC Bulletin Board: AMPD), a company engaged in the emission-free electrification of OEM vehicles, announced today the 100% electric GM Sky achieved 100 miles per gallon equivalent (mpge) highway in the Progressive Automotive X Prize finals. One of eight finalists in its category, the AMP'd entry was the only commercially-produced, non-concept vehicle in the finals to achieve this certification.
The AMP'd electric Sky is a stock GM Sky converted by AMP, and powered by REMY International motors. As part of AMP's current offering of all-electric vehicles, the AMP'd Sky, as well as the full-size AMP'd electric GM Equinox crossover, can be ordered by visiting the AMP website: http://www.ampelectricvehicles.com/. Initial deliveries are expected to reach the market this year, by the end of summer.
"We are very proud to have been the only production-ready vehicle in the finals of the Progressive Automotive X Prize competition, and of course, we congratulate the teams still in the hunt for the prize money and wish them success," said Steve Burns, AMP CEO. "We entered this race with a street-legal vehicle that outweighed most of our competition by more than two fold; to achieve a highway mpge of 100 is a true accomplishment and a serious validation for the entire AMP team."
The AMP'd Sky has proven to be more than four-times as fuel efficient than the original internal combustion Sky, with zero emissions. The factory-ready internal combustion Sky achieved 19 mpg city/28 hwy, compared to the AMP electric Sky at 88 mpge city/100 hwy.
While no longer in the running for the $10 million prize money, AMP was invited to compete in the second week of the finals to demonstrate AMP's advanced technology and vehicle capabilities in the dynamic safety event on Monday, July 26, as well as the combined performance and efficiency event on Tuesday, July 27. AMP's scores achieved in these events will be posted on the Progressive Automotive X Prize website, though not considered in the awarding of the prize purses. Additionally, the Company has been invited with the AMP'd GM Sky to the final awards ceremony in Washington, DC in September.
About AMP Holding Inc.
AMP was founded in 2007 by automotive industry veterans who have created several hi-tech companies. Currently, the AMP team is comprised of top engineers and business executives, as well as two key pioneers of GM's EV1 project. AMP's first models to all-electric are the GM Sky and the Pontiac Solstice, and most recently, the Chevrolet Equinox. Since its inception, the AMP all-electric GM Sky has proven itself to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP will be electrifying a wide range of GM vehicles, and expects to announce new model additions in 2010. The Company expects its vehicle electrification technology will provide new solutions to America's energy demands.
To learn more, visit the AMP website at http://www.ampelectricvehicles.com/. Progressive Insurance Automotive X PRIZE
The goal of the Progressive Insurance Automotive X PRIZE is to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prizes will be awarded to the teams that win a stage competition for clean, production-capable vehicles that exceed 100 Miles per gallon or energy equivalent (MPGe). The Progressive Insurance Automotive X PRIZE will place a major focus on efficiency, safety, affordability, and the environment. It is about developing real, production-capable cars that consumers will want to buy, not science projects or concept cars. This progress is needed because today's oil consumption is unsustainable and because automotive emissions significantly contribute to global warming and climate change. The ten million dollar purse and partial funding for prize operations was provided by Progressive Insurance. Additional major funding for education, outreach, and technical operations was provided by $9 million in grants from the U.S. Department of Energy. Additional funding for prize operations was provided by Cisco and private donors. For more information about the Progressive Insurance Automotive X PRIZE, please visit http://www.progressiveautoxprize.org/ or email progressiveautopress@xprize.org.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov/). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
INFORMATION: Investors: info(at)csirgroup(dot)com Media: mdektas(at)dhacustomerconnect(dot)com Mike Dektas AMP (513) 984-1200 mdektas@dhacustomerconnect.com
AMP Holding Inc.
CONTACT: Mike Dektas, AMP, +1-513-984-1200,
mdektas@dhacustomerconnect.com
Web Site: http://www.ampelectricvehicles.com/
