Lockheed Martin Facilitates Agreement Signed In Central Europe
FORT WORTH, Texas, February 2nd, 1998 -- As the result of discussions initiated by Lockheed Martin in Prague, the Czech Republic, SKODA ELCAR Ejpovice (a part of SKODA Pilsen Group) and Battery Automated Transportation (BAT) International, a U.S. company, today signed agreements that could lead to the development of highly efficient vehicles for the world market.
The two parties were brought together by Lockheed Martin as part of Lockheed Martin's industrial development activities in the Czech Republic. Lockheed Martin has been exploring potential programs that could lead to job creation, investment, technology transfer and export promotion across the entire Czech economy, in connection with the potential sale of Lockheed Martin products to the Czech Republic government.
Under the agreement, BAT will provide SKODA ELCAR with long life, low cost, nickel metal hydride batteries for electric and hybrid electric vehicles. BAT will also provide engine technology to SKODA ELCAR that can improve vehicle fuel efficiency in an internal combustion engine by approximately 40 percent, and also extend the driving range of an electric vehicle.
The two companies plan to produce preliminary vehicles for evaluation and use in demonstrations.
Joe LaStella, President of BAT, said "Lockheed Martin and BAT will provide assistance in seeking strategic partners, customers and funding to expand vehicle manufacturing activities. The combination of advanced technology, strategic partnerships and international financing will place SKODA ELCAR in an important position as an advanced transportation technology leader."
Lockheed Martin produces the F-16 and other advanced products that could eventually be purchased by the government of the Czech Republic. Lockheed Martin does not have a technical or investment role in the agreement between BAT and SKODA ELCAR.