Balqon Corporation (OTCBB: BLQN), a developer and manufacturer of zero-emissions heavy-duty electric vehicles, lithium battery energy storage products and electric drive systems, similar to companies like Tesla Motors Inc. (NASDAQ: TSLA) and A123 Systems Inc. (NASDAQ: AONE), has attracted and cultivated significant media attention over the past year.
Despite posting a 583% increase in its revenues and a significant backlog, the stock has been trading relatively steady at around $0.75 per share. Investors are hoping that this media attention translates to both increased attention for the company’s products in the commercial markets and its stock in the financial markets.
New Products Gain Media Attention
Balqon has recently announced a number of new electric vehicles, including its E-450 based on the Ford E-450 chassis and the Mule M100 targeting the medium-duty on-road market. These vehicles and others have attracted the attention of many mainstream media outlets. For instance, ShowTimes Daily recently ran a story on the E-450 line late last month.
Other recent stories have included:
Balqon’s Twitter account has also attracted more than 1,400 followers with regular industry news stories posted every day.
Balqon’s Strong and Growing Revenues
Balqon’s new products and newfound media attention have contributed to its tremendous success this year. Last quarter, the company reported revenues that increased 583% to $834,943 thanks to several new technologies and drive systems. In fact, 47% of these revenues were generated from its medium-sized bus and heavy-duty tractor market.
The company has also generated a $19.5 million backlog, which includes a $15.9 million outstanding purchase order for 300 electric drive systems from Winston Global Energy. Meanwhile, the firm remains optimistic that its customer base will expand during the rest of the 2011 and throughout 2012 in markets like China, India and throughout Europe.
In particular, some recent events that will help drive sales include:
A Great Investment Opportunity
Balqon Corporation (OTCBB: BLQN) represents a great investment opportunity. With a market capitalization of $26.73 million, the company may be trading at a significant discount given its growth rates. In fact, the firm’s existing backlog alone represents approximately 73% of this market capitalization.
For more information, please see the following: