Cenex announces support for Modec developments
Thu 30 August 2007
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Cenex, the UK's national centre of excellence for low carbon and fuel cell technologies, has announced that it will be supporting the low emission commercial vehicle maker Modec to accelerate the roll-out of customer demonstration vehicles in London.
Cenex has committed a six figure sum in support of the Modec dealer network in London.
The agreement comprises three key elements:
- The establishment of a joint project team to evaluate dealer and user experience in London, using the Knowledge Transfer Network (KTN) to publish relevant reports
- Cenex will become an official "observer" of the fleet trials of vehicles purchased by Modec's first customers
- Together with ING and other funders, an electric vehicle leasing experts' panel is to be set up in conjunction with Residual Value (RV) experts CAP (www.cap.co.uk). This will help speed up the process of establishing stable RVs for the Modec vehicles and thereby facilitate the market for leasing new electric vehicles, as well as the second hand market
This development comes alongside Modec's official openining of its new factory in Coventry, with a two shift capacity to produce close to 5,000 vehicles a year.
"This is exactly the kind of project that Cenex was formed to support," said Robert Evans, CEO of Cenex.
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