Remy International Inc., formerly Delco Remy, has signed contracts with six automakers to deliver electric drive motors for electric and hybrid vehicles.
CEO John Weber would not identify the company's customers but said the motors will be on the road within a year. Some of the customers are European automakers, he said.
“Our belief is that within five years, this will be a $500 million business for us,” Weber said.
The motors are similar to Remy electric motors used in large hybrid pickups and SUVs produced by General Motors Co. In the GM vehicles, the motors are inside the transmission. Remy's new motors can be placed inside or outside the transmission.
Initial production will take place in Mexico before being transferred to the United States, Weber said. He declined to say when U.S. production would start.
Remy, of Anderson, Ind., received loans from the U.S. Department of Energy to develop the electric motors, which are designed for cars, trucks, buses and heavy equipment.
Remy also has designed a control system for the motor so that small startup electric and hybrid automakers can reduce their need to design and engineer much of the car's electronics. Remy can make as many as 100,000 of the electric drive motors per year.
For more information, call (888) 258-REMY (7369) or visit www.RemyPowerProducts.com.
