President Obama Speaks at Smith Electric Vehicles Headquarters

CEO Bryan Hansel Responds to the President's Remarks on the Economy

KANSAS CITY, Mo., July 8, 2010; President Obama today addressed workers at the Smith Electric Vehicles plant to discuss the state of the economy and jobs. Smith Electric Vehicles is the nation's top manufacturer of battery-electric trucks and was recently the recipient of a Department of Energy grant to help offset future vehicle development costs and incentivize customers to participate in a commercial electric vehicle demonstration program.

Following the President's remarks CEO Bryan Hansel released the following statement:

"The administration has demonstrated its commitment to electric vehicles with the president's executive order last year requiring all federal agencies to set a plan for reducing greenhouse gas emissions and the Department of Energy's funding of promising electric vehicle technologies, like the Smith Newton.

"The $32 million in DOE funding is a game changer for our business, as it is for the wider industry, allowing us to rapidly scale up production, drive down costs, increase demand and create more high-quality manufacturing jobs."

Smith Electric produces the Newton, which is the only all-electric medium/heavy-truck offering on the GSA Schedule. The truck delivers a top speed of 50 mph and offers end users battery ranges from 50 to 120 miles on a single charge. It operates at peak effectiveness in urban applications that demand heavy stop and go driving. A single overnight charge provides more than enough range for most urban delivery routes.

Said Hansel: "The best way to understand this truck's capabilities is to get in and drive it - and this grant will give more potential customers that opportunity. By eliminating concerns over fluctuating fossil fuel prices, commercial electric vehicles give business owners unprecedented cost certainty as they look toward managing the next five-to-ten years of their fleets."

Current Smith Newton customers include AT&T, Coca-Cola, Frito-Lay, Pacific Gas and Electric Company (PG&E) and Staples.

About Smith Electric Vehicles U.S. Corporation: Smith Electric Vehicles U.S. Corporation (Smith) (www.sev-us.com) is an all-electric zero-emissions commercial truck manufacturer. The company licenses its proprietary technology from Smith Electric Vehicles in the U.K., the world's largest manufacturer and industry leader of commercial electric vehicles.