Solectria Shifts Business Focus with Singapore Equity Stake

Singapore Technology will become largest Solectria shareholder with just under 40% ownership.

Published: 14-Feb-2001

With Toyota, Honda and General Motors selling electric or hybrid cars, Solectria Inc., which helped pioneer the field, is shifting gears to become a parts supplier with an eye toward an initial public offering.

The 12-year-old developer of all-electric cars, hybrid (electric and either gas or diesel) panel trucks and school buses, yesterday said it received an $11 million equity investment from Singapore Technologies Kinetics Ltd.

The company, which plans to expand electric car development in China and other parts of Asia, is a wholly owned subsidiary of Singapore Technologies Pte Ltd., a multibillion-dollar global corporation with diverse business holdings.

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