Balqon Corporation (OTCBB: BLQN) is a developer and manufacturer of zero-emissions heavy-duty electric vehicles, lithium battery energy storage products and electric drive systems. While operating in the same industry as companies like Tesla Motors Inc. (NASDAQ: TSLA) and A123 Systems Inc. (NASDAQ: AONE), the company’s management team is as strong as any other in the industry.
When Balqon, entered the heavy-duty trucking industry, CEO and founder Balwinder Samra had the goal of creating cost-effective, zero-emission solutions for the container transportation market. Beginning with world’s first short-haul all-electric trucks for the Port of Los Angeles, Balqon now provides multiple models of all-electric trucks, with specifications tailored to every market they can reach.
The pioneering vision of Balqon management to create new markets for electric vehicles should come as no surprise to anyone who has followed the history of Balwinder Samra in the electric vehicle market space. While electric heavy-duty trucking is a relatively recent development, the history of electric delivery vans and light trucks dates back to the early 1990’s. Even then, Samra and his product development team were at the forefront of innovation in the electric vehicle industry. In 1992, while Corporate Vice President for Taylor-Dunn Manufacturing (a leading producer of electric utility vehicles), Mr. Samra and his team developed and delivered 400 all-electric delivery vans for a Frito-Lay subsidiary in Latin America.
To understand the state of electric vehicles at the time, no consumer electric vehicle was available in the United States, and few, if any, commercial electric vehicles existed either. Mr. Samra and his team were tasked with innovation and creation of large number of all-electric vehicles with almost no precedent, and they succeeded, developing and delivering all 400 delivery vans in less than a year. This pioneering spirit was harnessed again for Balqon – when Mr. Samra founded Balqon Corporation, he brought this same management team back together to develop the world’s first heavy-duty electric truck.
Since coming back together, this management team has been nothing but innovative in addressing new electric vehicle applications worldwide. In seven short years, they have produced three industry-leading all-electric truck models and heavy-duty electric drive systems used in buses and RVs, and recently have begun developing lithium battery energy storage systems. The past cannot always indicate future success, but with Balwinder Samra’s decades-long dedication to developing the newest electric vehicle technology and markets, the success of Balqon seems inevitable.
With a market capitalization of under $15 million, Balqon Corporation (OTCBB: BLQN) trades at a fraction of its potential valuation, if it’s successful in further rolling out its EV and battery technologies. Investors focused on the alternative energy space may therefore want to consider adding this stock to their portfolios before Wall Street discovers this potential gem.
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