Wednesday, July 8, 2009

Quantum Fuel Systems Inks $10.2M Contract With Fisker Automotive

Irvine-based Quantum Fuel Systems Technologies, a developer of energy storage and other related systems, said today that it has signed a $10.2M contract with Fisker Automotive to develop plug-in hybrid powertrains. According to Quantum, the Phase III effort will enable Quantum to manage production validation of its plug-in hybrid system, for volume production in 2010. Fisker Automotive, which is backed by the Qatar Investment Authority, Palo Alto Investors and Kleiner Perkins Caufield & Byers, has already disclosed that it would be using Quantum's hybrid powertrain for its autos.

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