ALTe LLC to Hold Ribbon Cutting Ceremony to Celebrate Opening of New Auburn Hills, Mich. Development and Manufacturing Facility

AUBURN HILLS, Mich., March 22 /PRNewswire/ -- ALTe LLC, the Michigan-based technology company and mass producer of electric propulsion systems, will hold a ribbon cutting at 10 a.m. on Monday, April 12, 2010 for its new 185,000-square-foot development and manufacturing facility in Auburn Hills, Mich. Following the ribbon cutting, ALTe will provide a demonstration of its new Range Extended Electric Powertrain (REEP) prototype vehicle.

The REEP propulsion system is used to retrofit existing vehicles to increase their fuel economy and lower emissions. Designed to replace a base V-8 internal combustion engine powertrain, the REEP system's patented technology improves fuel economy from 80% to 200%.

"The opening of our Auburn Hills facility is a historic milestone for ALTe," said John Thomas, CEO of ALTe. "At full production, our new facility will produce up to 90,000 powertrains each year, and will create over 300 jobs."

In February, ALTe was approved to receive a tax credit valued at $8.4 million over seven years from the Michigan Economic Development Corporation's (MEDC) Michigan Economic Growth Authority (MEGA) board. ALTe invested in its new Auburn Hills facility to further demonstrate the company's commitment to the state of Michigan.

"We're pleased that ALTe has chosen Michigan and Auburn Hills for its new assembly facility," Governor Jennifer M. Granholm said following the tax credit announcement in February. "This project further boosts our ongoing efforts to diversify the state's economy, and shows that businesses are continuing to choose Michigan because of our highly-skilled workers and competitive business climate."

The invitation-only event will be held at 4425 Purks Road, Auburn Hills, Mich., 48326. Media is invited to attend. Public officials including Sen. Debbie Stabenow and representatives from Gov. Granholm's office are expected to attend. For more information about ALTe, visit www.altellc.com.

About ALTe LLC

ALTe LLC is a Michigan-based technology company and mass producer of electric propulsion systems. ALTe is committed to leading the evolution of the automobile industry from gasoline-powered vehicles to electric technology. With a unique combination of Detroit and Silicon Valley automotive engineering experience, ALTe is dedicated to innovation, excellence in engineering and operations, while advancing sustainable mobility, energy security and environmental stewardship. For more information, visit www.altellc.com.

SOURCE ALTe LLC