Sevcon and Flextronics Automotive Join Forces to Provide Drivetrain Systems for Electric and Hybrid Vehicles

SOUTHBOROUGH, Mass. and SINGAPORE, March 8, 2012 /PRNewswire/ -- Sevcon, Inc. (NASDAQ: SEV), a global manufacturer of microprocessor based controls for electric and hybrid vehicles, and Flextronics Automotive, a business of  Flextronics (NASDAQ: FLEX), a leading global Electronics Manufacturing Services (EMS) provider, today announced that they have entered into a cooperation agreement to provide hybrid and electric vehicle drivetrain systems to automotive OEM customers in Germany and other central European countries. Flextronics Automotive provides fully integrated lighting solutions, connectivity modules and power electronic applications for automotive manufacturers around the world. 

The agreement enables the companies to combine Sevcon's state-of-the art motor controllers and onboard systems integration products with Flextronics Automotive's high-voltage DC/DC converter, charger and battery management technology in developing complete drivetrain solutions for hybrid and pure electric vehicles ranging in size from two-wheeled scooters to passenger cars and trucks. The companies also have agreed to jointly pursue product marketing and sales outreach to automotive OEM customers, with Sevcon designated as Tier 1 supplier and Flextronics Automotive as manufacturer for all combined product sales.

"Partnering with Flextronics Automotive will enable us to scale our business to meet growing product demand in Germany and central Europe far more rapidly than we could on our own," said Sevcon President and CEO Matt Boyle. "With the ability to offer end-to-end solutions and draw upon Flextronics' globally admired, high-volume manufacturing capabilities, we look forward to completing larger deals with major automotive OEMs that have the potential to dramatically accelerate our growth."

"Sevcon is a globally proven innovator and leading supplier in this exciting growth segment of the automotive market," said Paul Humphries, business group president of High Reliability Solutions at Flextronics. "Sevcon's advanced motor control technology complements Flextronics Automotive's energy efficient automotive portfolio and by way of this partnership, together we can offer customers a more complete drivetrain solution for the pure electric and hybrid vehicle markets.  We look forward to a mutually productive partnership that creates new growth opportunities for both companies."

About Flextronics

Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, industrial, infrastructure, medical, clean tech and mobile OEMs. Flextronics helps customers design, build, ship and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and are vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit www.flextronics.com.

About Sevcon

Sevcon is a world leader in the design and manufacture of microprocessor based controls for zero emission electric vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions, and to optimize the energy consumption of the vehicle's power source. The company supplies customers throughout the world from its operations in the USA, the UK, France and the Asia Pacific region and through an international dealer network. Sevcon's customers are manufacturers of on and off road vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers and other electrically powered vehicles. For more information, visit www.sevcon.com.

Sevcon, Inc. Forward-Looking Statements

Forward-looking statements in this release about Sevcon's agreement with Flextronics to develop and market complete drivetrain systems for electric and hybrid vehicles are subject to risks and uncertainties that could cause actual results to differ materially from those we anticipate. In particular: the activities contemplated under the agreement could fail to achieve their goals; global demand for electric vehicles may not grow as much as we expect; our customers' products may not be as successful as those of other entrants in the electric vehicle market who are supplied by our competitors; continuing economic instability may cause customers to delay, decrease or cancel purchases of our products; we are dependent on a few key suppliers and subcontractors for most components, sub-assemblies and finished products, and we may not be able to establish alternative sources of supply in time if supplies are interrupted; we have a small number of key customers whose loss would adversely affect our results; and our worldwide operations are subject to the risks of international trade, including without limitation regional economic downturns, exchange rate fluctuations, and changing laws, regulatory practices and tariffs.  Please see the company's most recent forms 10-K and 10-Q on file with the SEC for further information regarding Sevcon's risk factors.

SOURCE Flextronics

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