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US: Navistar takes stake in Modec parent

By just-auto.com editorial team | 2 December 2009

Navistar has purchased an equity stake in Borwick Group, the parent company of Modec an electrical truck company.

The acquisition will see Modec and Navistar International form a joint venture for North and South America. The jointly owned company is named Navistar-Modec EV Alliance, LLC.

Financial details of the deal were not disclosed.

Modec was the first electric vehicle to achieve the new EU-wide whole vehicle type approval, valid in all EU member states. It is presently completing the equivalent approvals for North America.

In October it was reported that a British specialist in electric vehicle drivetrains would provide advanced technology for the US government-backed electric commercial vehicle programme being developed by Navistar and Modec.

A range of electric delivery vehicles being developed for the North, Central and South American markets will use a 70kW Zytek powertrain. Developed with the support of a US$39m (GBP23m) US government grant, the vehicles will be manufactured by the new joint venture company being established by truckmaker Navistar and British electric commercial vehicle specialist Modec.