Joule to hit SA's streets in 2010

South Africa: The Good News    Translate This Article
4 April 2009

Optimal Energy, the Cape Town-based company behind Joule, SA's first fully electric multi-purpose urban passenger vehicle, has secured funding to mass produce the vehicle. South Africans can look forward to pilot fleets of Joule on our roads and around the globe from 2010 onwards.

The industrialisation of Joule has been made possible by financial backing from the Department of Science and Technology's investment arm, the Innovation Fund, as well as the Industrial Development Corporation. Optimal Energy intends raising further private capital towards the end of 2009.

'Optimal Energy is capitalising on South Africa's technological prowess, its track record of building premium cars for the export market, the current sea of change in transport technology brought about by climate change, pollution and energy security issues, and the immense progress in battery technology,' says CEO of Optimal Energy Kobus Meiring.

'Optimal Energy aims to place South Africa at the frontline of the renewable energy movement with Joule. This investment helps us to drive the industrialisation process, taking us to the next level.'

Asked if the global economic crisis that is impacting heavily on the large automotive manufacturers will hinder production of the Joule, Meiring is firm that it will not. 'Interest in the vehicle has been enormous both at a local and international level. The timing of this investment and the planned 2012 start of volume production is ideal.

Current market conditions are slowing down the traditional manufacturers' efforts while the market, especially for clean vehicles, is predicted to be in a strong upward swing from 2012 onwards,' he notes.

Once production of Joule begins, Meiring estimates that Optimal Energy, which currently employs more than 80 highly-skilled personnel, will directly increase headcount to around 1 000 employees while a further approximately 5 000 people will be employed in various related and support industries.

'We are in the process of selecting a site for our first assembly and manufacturing plant. The location of the plant will be announced later this year,' said Meiring.

Joule is Africa's first electric car. The six-seater vehicle complies with UN safety standards and will offer its owners a zero emission urban driving experience. The vehicle was designed by world renowned Keith Helfet, the South African-born former Jaguar designer.

www.sagoodnews.co.za



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