This Week
  • UTC Retail Inc. grabbed the top spot on the 2014 Rochester Top 100.

  • Jean Maess is the site executive for Thomson Reuters, a top local employer.

  • UTC Retail Inc. grabbed the top spot on the 2014 Rochester Top 100.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

  • The nominees for the upcoming 2014 Philanthropy Awards are profiled.

  • WebTitle Agency continues to grow following its 2012 merger with Customized Lenders Services.

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