Mitsubishi Motors and Energy Industry Leader NRG Energy Team Up to Improve Electric Vehicle Charging Infrastructure in Texas
WASHINGTON, April 21, 2011 /PRNewswire/ -- Mitsubishi Motors North America, Inc., (MMNA) and NRG Energy, Inc. (NYSE: NRG), one of America's leading energy producers, are joining forces to provide owners of the upcoming Mitsubishi i new freedom and range confidence across NRG's eVgo(SM) (ee-vee-go) comprehensive, privately funded electric vehicle (EV) recharging network.
Set for an initial rollout in the coming months in two of America's most populated metropolitan areas - Houston and the Dallas/Fort Worth Metroplex - before expanding into additional major cities throughout Texas in 2012, Mitsubishi i owners in the Lone Star State will soon be able to quickly and conveniently recharge their breakthrough eco-friendly and efficient EVs at dozens of eVgo charging Freedom Stations.
Each Freedom Station provides a 480 volt DC fast charger that can add 30 miles of range in as little as 10 minutes and a 240 volt Level 2 charger that can add up to 25 miles of range in an hour. Freedom Stations are available 24/7 and include a customer service tower with a mounted camera, giving customers access to an eVgo service representative or to activate a strobe light, siren and alert law enforcement, even from inside their vehicles. The eVgo network will also include Convenience Stations(SM) that offer a 240 volt Level 2 charger and are available during the retail host's business hours.
The targeted market rollout for these new eVgo EV charging stations is to have 25 Freedom Stations in the Houston area and 35 Freedom Stations in the Dallas/Fort Worth area open by the end of this summer, with the number of available Freedom Stations increasing to 50 and 75 in the two metropolitan areas respectively by the end of 2012. NRG also plans to electrify the Interstate 45 corridor connecting them in 2012.
"Through this partnership, owners of Mitsubishi i electric vehicles will find tremendous convenience, economy and price security through their access to the eVgo network," said Arun Banskota, president of NRG EV Services. "We welcome Mitsubishi to the eVgo partnership and look forward to building an unprecedented and growing EV infrastructure together."
Another facet of the partnership will see Mitsubishi acting as a consultant to NRG in the energy company's efforts to advance electric vehicle infrastructure in America. The Japanese auto manufacturer has extensive knowledge in electric vehicles and EV infrastructure as it has been designing and developing 100% electric-powered cars for more than four decades and has sold thousands of Mitsubishi i production cars in Japan and Europe.
An additional part of the Mitsubishi Motors/NRG agreement will allow Mitsubishi i owners in Texas the option to subscribe to special EV Charging Package rates offered by NRG during the home assessment service and installation of an Eaton Level II home charger.
"We are very excited to be working with such a dynamic and forward-thinking energy company as NRG to expand the electric vehicle recharging infrastructure in the great state of Texas," said Yoichi Yokozawa, President and CEO of Mitsubishi Motors North America. "Savvy consumers and corporate/municipality fleet managers who take advantage of our special pre-order offer for the eco-friendly and money-saving electric-powered Mitsubishi i beginning Earth Day, April 22, 2011, will have scores of convenient, fast and affordable eVgo recharging stations to choose from when they take delivery of their cars next year."
For more information on the Mitsubishi i, log on to www.mitsubishicars.com/imievfleet and for more on the eVgo network, including charger locations, pricing plans or to recommend an eVgo charging location, visit www.evgonetwork.com/.
About Mitsubishi Motors Corporation
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all manufacturing, finance, sales, marketing, research and development operations for Mitsubishi Motors in the United States. MMNA sells coupes, convertibles, sedans and sport utility vehicles through a network of approximately 400 dealers. In November of 2011, MMNA will launch the battery-powered Mitsubishi i electric vehicle as part of a corporate mission to offer consumers more environmentally responsible modes of transportation. This battery-powered electric vehicle technology addresses the need for vehicles that produce zero tailpipe emissions and support a growing agenda for sustainability. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com.
NRG Energy, Inc., a Fortune 500 and S&P 500 Index company, owns and operates one of the country's largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company's power plants provide nearly 25,000 megawatts of generation capacity—enough to supply nearly 20 million homes. NRG's retail businesses, Reliant Energy and Green Mountain Energy Company, combined serve more than 1.8 million residential, business, commercial and industrial customers. With investments in solar, wind and nuclear power, as well as EV infrastructure, NRG is working to help America's transition to a clean energy economy. NRG Energy is a founding member of the Electrification Coalition, a nonpartisan, not-for-profit group of business leaders committed to promoting policies and actions that facilitate the deployment of electric vehicles on a mass scale. More information is available at www.nrgenergy.com.
eVgo is the nation's first privately funded, comprehensive electric vehicle ecosystem. The eVgo network gives EV owners new freedom and range confidence via home charging and fast-charging stations conveniently located at major retailers, employers and along highways across eVgo cities. eVgo allows EV owners to avoid paying large up-front costs for a home charger and provides unlimited use remote charging—all for one low monthly fee. To find out more, or to join the eVgo network, visit www.evgonetwork.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG's expectations regarding the electric vehicle and electric vehicle infrastructure and forward-looking statements typically can be identified by the use of words such as "will," "expect," "believe," and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our electric vehicle projects.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
SOURCE Mitsubishi Motors North America, Inc.
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