This Week
  • CEO Eric Bieber M.D. must meld two systems, transition to new model.

  • President Kevin Bragg has built a career with Chrisanntha Construction Corp.

  • Planning can help reduce conflict when the time comes to end a business partnership.

  • Viewpoint Systems has been known to keep a close eye on its customers.

  • Twenty-year-old Jaquan Outlaw is off to a fast start.

  • A recent visit to Ho Chi Minh City in Vietnam was an eye-opener for RIT students.

Torvec inks deal with Chinese automaker

Rochester Business Journal
January 28, 2013

Torvec Inc. has signed an agreement with Chinese automaker BAIC Motor Co. Ltd. to manufacture prototypes of its IsoTorque differentials for future car models.

Financial details of the agreement were not disclosed but Torvec officials said the company will provide “a number” of differentials for evaluation and testing in BAIC vehicles. BAIC is to  furnish Torvec with specifications, drawings, differential housings and compensation to manufacture the IsoTorques.

“This is a great opportunity for Torvec to work with an established auto manufacture in the world’s largest automotive market,” said Keith Gleasman, Torvec’s vice president of marketing. “It is also a great opportunity for BAIC to adopt this outstanding technology.”

Torvec CEO Richard Kaplan noted the prototypes will be made at the company’s facility in Rochester, and it will not add to its staff to do so. When the testing is done it is likely Torvec will license the IsoTorque differentials to BAIC rather than produce them here, he added.

Shares of Torvec stock (OTB: TOVC) were unchanged midday Monday at 72 cents.

BAIC operates as a subsidiary of Beijing Automotive Industry Holding Co. Ltd, the fifth-largest carmaker in China in terms of sales. BAIC manufactures passenger cars and off-road vehicles for the Chinese market.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google