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Amp Electric Lines up Cool Deal in Iceland

Luxury battery SUV deal should generate $100 mil.

by on May.11, 2011

Gisli Gislason, CEO of Northern Lights Energy, takes delivery of the battery-powered ML sport-ute from Amp CEO Jim Taylor.

Indiana-based electric vehicle maker Amp electric has landed a major deal that should be worth about $100 million over the next four year, a significant sum for a battery-car start-up.

Amp will deliver a Mercedes-Benz ML sport-utility vehicle, today, that it has converted to run on battery power.  It will be the first of 20 the conversion company has been contracted to supply to Iceland’s Northern Lights, by mid-year.  Their agreement then calls for production to ramp up to 250 vehicles annually, or 1,000 in total.

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While neither company would discuss the specific price per vehicle, Amp CEO Jim Taylor said the Northern Lights contract, which includes various support and training functions, will be worth $100 million.

“This is an ideal relationship,” said Taylor, who previously headed the Hummer and Cadillac divisions for General Motors before joining Amp early this year.