Balqon Corporation is a leading developer of heavy-duty electric trucks, tractors and electric drive systems. The company uses its proprietary flux vector control technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. For more information on the company’s technology and products, please visit their website at www.balqon.com

The company announced today that it has entered into a dealer agreement with Mol Transport Solutions, a leading manufacturer of port and material handling equipment in Europe. Founded in 1944, Mol Transport Solutions develops heavy-duty trucks for both highway and off-highway applications. Their product line include trailers, tractors and trucks used for moving containers at ports, rail yards and other areas.

Balqon considers Mol as a strategic partner with regard to the company entering the key European market. Mol’s experience in the region provides Balqon with the knowhow to gain European compliance for its products. The relationship will also allow the company to add new product configurations, such as 4-wheel drive roro tractors to its existing product line.

Balqon and Mol also plan to jointly develop an all-electric product configuration for on-road applications in Europe that will incorporate Balqon’s proprietary drive system and high-capacity lithium-ion battery packs.

Mol Transport Solutions represents another step in its international expansion. It is the fourth international dealer agreement Balqon has established since the beginning of 2010. In February, the company entered into an agreement with Autoelevadores Yale, a leading distributor of material handling equipment and electric vehicles in Argentina.

In March, Balqon entered into an agreement with Industrias IVOR, a distributor of trucks and heavy machinery for material handling products in Columbia. In June, the company entered into an agreement with Electric cars of Costa Rica, a distributor of light-duty trucks and electric vehicles in Costa Rica.