Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Auto Components
Powertrain
Return to: ABR Home | Auto Components | Powertrain

Azure Dynamics to cut workforce by 25%

ABR Staff Writer Published 20 January 2009

The company plans to further rationalise its product development efforts to focus on existing products

Azure Dynamics, a Canadian manufacturer of powertrain systems for commercial vehicles, has announced a restructuring and comprehensive cost reduction plan. The plan includes an approximate 25% reduction in its current workforce along with expected reductions in all discretionary expenses and a focus on actions to offset recent component cost increases.

According to the company, the plan was designed to address the realities of economy and marketplace while meeting the demand for future's most energy efficient commercial vehicles.

In addition, the company plans to further rationalise its product development efforts to focus on existing products and is actively working with its customers on potential new programmes that involve sharing of development costs.

Scott Harrison, CEO of Azure Dynamics, said: Our restructuring recognises the realities of today's economy and marketplace. We continue to maximise our Balance hybrid electric technology and now offer a shuttle bus variant in addition to the delivery truck application.

AZD has expertise in the areas of vehicle controls software, power electronics, electric machine design, vehicle systems engineering and vehicle integration. The principal business of AZD is the supply of hybrid electric vehicle and electric vehicle control and power train systems. AZD has developed proprietary electric and hybrid electric drive technology for the light to heavy duty commercial vehicle categories.