AeroVironment’s Portable TurboCord Dual Plug-In EV Charger Named Finalist for Prestigious PACE Award

January 14, 2016
  • Awards honor superior innovation, technological achievement and business performance among automotive suppliers
  • TurboCord Dual can charge nearly three times faster than standard cordsets – less than three hours for plug-in hybrids and less than six hours for full battery electrics

SIMI VALLEY, Calif., Jan. 14, 2016 – AeroVironment, Inc. (NASDAQ:AVAV), a leader in electric vehicle (EV) charging and the preferred charging solution supplier for seven global automakers, today announced its TurboCord™ Dual plug-in EV charger has been named as a finalist for the 2016 Automotive News PACE Awards.

Only suppliers with a production commitment from an automotive original equipment manufacturer (OEM) qualify for PACE Award consideration. Volvo selected AeroVironment’s TurboCord Dual earlier this year to be included as standard equipment in the 2016 Volvo XC90 T8 Twin Engine plug-in hybrid.

Volvo’s selection of AeroVironment’s TurboCord Dual was based on its ability to deliver unmatched charging versatility – as well as its powerful and light, yet durable nature. The smallest and first UL-listed, dual voltage Level 1 and Level 2 (120V / 240V) charging cordset on the market, the innovative TurboCord Dual is an elegant fit with the luxurious Volvo XC90 T8 Twin Engine, which is powered by a both a supercharged and turbocharged Drive-E engine and a rear axle electric motor. The Volvo XC90 T8 Twin Engine is the first plug-in hybrid to offer a UL listed 240-volt Level 2 charging as part of its standard package. With TurboCord inside, Volvo drivers can conveniently and easily maximize their electric driving range. At 240-volt Level 2 charging, TurboCord Dual can fully charge the Volvo XC90 in as little as 2.5 hours versus seven hours with a normal Level 1 cordset that comes with other EVs.

“More plug-in drivers are choosing TurboCord Dual for its convenience and versatility, and with its selection by Volvo and nomination for the PACE Award there is even more evidence that TurboCord Dual is making an impact,” said Ken Karklin, general manager, efficient energy systems for AeroVironment. “TurboCord Dual is a remarkably flexible and powerful portable charging solution, and is setting a new standard for fast, dependable EV charging that is both convenient and easy for drivers.”

The Automotive News PACE awards program, now in its 22nd year, honors suppliers' innovations in products, information technology, manufacturing processes and capital equipment. Recognized around the world as a benchmark for innovation, the awards are regarded as the Oscars of the automotive components industry, and are awarded to technologies that offer superior innovation, technological achievement and business performance among automotive suppliers.

Award winners will be announced April 11 at the Max M. & Marjorie S. Fisher Music Center in Detroit, kicking off SAE World Congress week.

For more information, please visit www.evsolutions.com.


About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty.Based in California, AeroVironment is a global leader in unmanned aircraft systems, tactical missile systems and electric vehicle charging and test systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.com.


Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.


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Contact:
AeroVironment, Inc.
Steven Gitlin
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Mark Boyer
For AeroVironment, Inc.
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