From AFX News Limited
NEW YORK — The Environmental Protection Agency on Wednesday unveiled a hybrid diesel vehicle that could reduce the fuel costs of package delivery services like UPS by as much as 70 percent and cut harmful emissions.
The hybrid, which was developed through a partnership between the EPA, UPS, the Army’s National Automotive Center, Eaton Corp. and Navistar’s International Truck and Engine Corp., combines a high-efficiency diesel engine with a hydraulic propulsion system, which replaces the vehicle’s conventional drivetrain and transmission.
UPS said the technology could also be used by shuttles, buses and garbage trucks. If it were made available commercially, organizations that buy the hybrid could qualify for tax breaks.
The vehicle uses hydraulic pumps and storage tanks to store energy, like electric motors and batteries in hybrid electric vehicles like the Toyota Prius. Fuel economy is increased because vehicle braking energy that’s normally wasted is recovered, the engine is operated more efficiently, and the engine can be shut off when stopped or decelerated.
In laboratory testing, the hybrid achieved a 60 percent to 70 percent improvement in fuel economy and a reduction of more than 40 percent in emissions, versus current UPS trucks. The EPA and UPS plan to conduct real-world testing this year.
UPS shares rose $1.06 to $80.77 in afternoon trading on the New York Stock Exchange. Shares of Eaton climbed $1.79, or 2.4 percent to $74.24 on the NYSE. The stock has traded in a 52-week range of $56.65 to $79.98. Navistar shares gained 32 cents to $24.34 on the Big Board.
Copyright 2006 AFX News Limited. All Rights Reserved.
_______________________________________
Click here to view the rest of today’s headlines.